Practice / II · IV

Origination and
Offtake.

Sourcing, offtake and credit-wrapped distribution for sovereign and corporate counterparties. The firm builds the credit-enhancement layers — insurance, fund risk-takers, ECA frameworks — that bring corporate-credit-risk receivables to a tier-one bank threshold.

Origination · OfftakeCredit-wrapped distributionSovereign · Corporate
Soft commodity bales
Plate 04 — Commodities
MMXXVI
— Capabilities

Three lines of capability.

Commodity origination, structured offtake with sovereign-grade documentation, and credit-wrapped distribution that converts corporate-risk receivables into bankable assets.

I — Capability

Origination.

Sourcing physical commodity supply for sovereign and corporate counterparties from qualified producers and approved intermediaries. Coverage spans hydrocarbons, refined products, soft commodities (cocoa, cashew, cotton, sugar, grains) and select industrial materials. Strategic-reserve, food-security and energy-security mandates are within scope.

II — Capability

Offtake.

Structured offtake agreements between producers and end-users with sovereign-grade documentation. Long-tenor commitments, indexation, take-or-pay where the economics require it, with the documentation chain a tier-one funder can verify. The firm acts in principal or agency capacity as appropriate; the role is disclosed in writing before any transactional step.

III — Capability

Credit-wrapped distribution.

Credit-enhancement architecture — insurance partners, balance-sheet providers, ECA frameworks — that converts corporate-credit-risk receivables into instruments banks can fund at unsecured-rated pricing. Programme design covers the proportion wrapped, policy terms, declaration triggers, joint loss payee structures, and intercreditor arrangements.

— Scope

On what we will act.

Does Hen Street act as principal or agent?

Both, where appropriate. In every transaction the firm's capacity is disclosed in writing before any transactional step. The firm does not warehouse positions or hold inventory.

Which commodity categories are within scope?

Hydrocarbons (crude, refined products, LPG, LNG cargoes), soft commodities (cocoa, cashew, cotton, sugar, grains, palm oil), and select industrial materials. The firm does not engage in speculative paper trading, futures market-making, or any on-exchange clearing activity.

Does the firm provide capital from its own balance sheet?

Capital is arranged through insurance partners, specialist funds, ECA frameworks and tier-one banks. The firm structures the instrument so the receivable reaches bankable standard; funders bring the capital.

Mandates begin with a
single introduction.

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