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Thndr Claps » EGY Claps » Financial Services 💸 » SODIC’s Soreal signed a credit facility of 600 million pounds🌆

SODIC’s Soreal signed a credit facility of 600 million pounds🌆

by Ziad Amin
June 14, 2022

The Clap
Soreal, a SODIC (OCDI) subsidiary, has signed a credit facility contract with Ahli United Bank worth EGP 600 million.

The deets
The contract will be through a check discounting process representing future installments of units delivered in the Eastown New Cairo project.

Claps Class
Discounting is a financial transaction that allows companies to receive the value of their sales immediately. For example, if a company has invoices for future dues, it can sell the invoices to a third party and get the money immediately.

For SODIC’s full statement, click here.

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