Shearman & Sterling advised ADNOC Global Trading (AGT) in connection with its $1.2 billion credit facility with a club of seven major banks: Standard Chartered Bank, HSBC, Abu Dhabi Commercial Bank, Deutsche Bank, Societe Generale Corporate & Investment Banking, SMBC and UniCredit Bank.
The credit facilities provide capital to finance AGT’s trade flows and growth of activities. AGT is a joint venture between Abu Dhabi National Oil Company (ADNOC), which holds 65%, Italy’s Eni with a 20% share and Austria’s OMV with a 15% stake. Since going live in 2020, AGT continues to grow, moving into new markets and expanding the reach of ADNOC’s refined products.
The Shearman & Sterling team below included associate Eoin Coffey (Abu Dhabi-PDF).