Thndr Claps » EGY Claps » Real Estate 🏡 » SODIC subsidiary secures EGP 2.7bn credit facility
The ClapSODIC’s subsidiary, Al Yosr Real Estate Investment, signed a credit facility with the Arab African International Bank for EGP 2.7 billion.
You should knowCredit facilities allow entities to borrow without any prior request. In this case, the total financing Al Yosr can borrow is EGP 2.7 billion.
WhatSODIC said this step aims to increase the company’s investments financed by debt to maximize returns for the company, a move also known as financial leverage.
So whatThis facility is considered a certificate of confidence in SODIC’s financial performance.
Now WhatThis line of credit will be used to finance part of “The Estates” project in West Cairo.
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