In line with the Crédit Agricole Group's rating, which is now rated A+ Stable, this upgrade enables UBAF to position itself even more favorably with institutional depositors at a time when the financing of our commercial activities is growing strongly and should continue to do so in 2022.
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In relation to the facility for guarantees previously granted to SAIPEM, UBAF informs it has issued a Performance bond on behalf of its client, with regards to the Saint Brieuc Offshore Wind Farm Project awarded to SAIPEM on July 2020.
Jointly with Samsung Engineering and
UBAF, a long-standing partner of the International Islamic Trade Finance Corporation (ITFC), recently participated in an Islamic financing project for the Egyptian Government.
Operating from both its Paris-based head office and its network in the Arab world and Asia, UBAF is a major player in trade financing between Europe, Asia, Africa and the Arab world.
As part of its trade finance activities, UBAF renewed its participation in the Gunvor Group's RCF. This RCF was oversubscribed by the banks with a final amount of $1.69 billion. This type of financing provides the Group with a liquidity cushion for managing its price risk.