Upmarket real estate developer Sodic has obtained a EGP 1.57 bn credit facility from the Arab African International Bank and Banque Misr to finance the Sodic West residential project, according to a bourse disclosure (pdf). The long-term facility will be used to refinance an outstanding EGP 1.1 bn from an EGP 1.3 bn medium-term facility signed in April 2017 as well as to partially finance the remaining capex for Sodic West.

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