{"id":547273,"date":"2022-06-15T03:59:19","date_gmt":"2022-06-15T03:59:19","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/"},"modified":"2022-06-15T03:59:19","modified_gmt":"2022-06-15T03:59:19","slug":"sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/06\/15\/sodic-seals-egp-600-mn-financing-agreement-with-ahli-united-bank\/","title":{"rendered":"SODIC seals EGP 600 mn financing agreement with Ahli United Bank"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-05\"><\/a> <strong>SODIC subsidiary to borrow EGP 600 m<\/strong><strong>n<\/strong><strong> from Ahli United Bank: <\/strong>Ahli United Bank has agreed to provide SODIC subsidiary Six of October For Development & Real Estate Projects (SOREAL) with a EGP 600 mn discounting facility, enabling the real estate company to borrow against future repayments from its East Cairo project, Eastown Residences, according to <a href=\"\">a statement (pdf)<\/a> yesterday.<\/p>\n<p><strong>Why go through with it: <\/strong>\u201cThis agreement comes in line with SODIC\u2019s continuous efforts to diversify our funding sources to enable growth and support ongoing operations while maintaining the strength and liquidity of our balance sheet and financial position,\u201d SODIC\u2019s CFO Omar Elhamawy said.<\/p>\n<p><strong>Account receivables financing: A primer. <\/strong>Accounts receivable financing is a short-term funding method that allows companies to receive early payment of future income. It can come in handy when there\u2019s a timing mismatch between the cash inflows and outflows of a company, giving it access to early payments.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>SODIC subsidiary to borrow EGP 600 mn from Ahli United Bank: Ahli United Bank has agreed to provide SODIC subsidiary Six of October For Development &#038; Real Estate Projects (SOREAL) with a EGP 600 mn discounting facility, enabling the real estate company to borrow against future repayments from its East Cairo project, Eastown Residences, according [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":547274,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7274],"tags":[1628,7106,88,72,83,312],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-547273","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-debt-watch","tag-ahli-united-bank","tag-debt","tag-debt-watch","tag-enterpriseam","tag-real-estate","tag-sodic","wpautop","entry"],"acf":{"mongo_id":"2ca6f9bb-5e10-44b4-b232-00461524211c","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/9\/780-The-estates-sodic.jpg","photo_position":"above","related_issue":[547266],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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The credit facility will replace a medium-term loan\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":643538,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/09\/10\/ora-developers-secures-egp-7-bn-from-banking-consortium-plus-sodic-signs-egp-4-1-bn-loan-agreement-with-cib-banque-misr\/","url_meta":{"origin":547273,"position":1},"title":"Ora Developers secures EGP 7 bn from banking consortium. PLUS: SODIC signs EGP 4.1 bn loan agreement with CIB, Banque Misr","author":"enterpriseam admin","date":"10 September 2024","format":false,"excerpt":"CIB contributed some EGP 4 bn to the overall funding","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/8\/2566.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":574754,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/09\/21\/sodic-subsidiary-signs-egp-2-57-bn-medium-term-facility-with-aaib\/","url_meta":{"origin":547273,"position":2},"title":"Sodic subsidiary signs EGP 2.57 bn medium term facility with AAIB","author":"enterpriseam admin","date":"21 September 2020","format":false,"excerpt":"DEBT WATCH- Sodic subsidiary signs EGP 2.57 bn medium term facility with AAIB: Sodic subsidiary Soreal Real Estate Development signed a EGP 2.57 bn medium-term facility with the Arab African International Bank to finance Sodic\u2019s Villette project in New Cairo, according to an emailed statement (pdf). Villette is a 301-feddan\u2026","rel":"","context":"In &quot;Speed Round&quot;","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":555495,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/16\/cira-to-borrow-egp-375-mn-for-capex-spending-egylease-closes-securitized-bond-issuance\/","url_meta":{"origin":547273,"position":3},"title":"CIRA to borrow EGP 375 mn for capex spending + EgyLease closes securitized bond issuance","author":"enterpriseam admin","date":"16 November 2021","format":false,"excerpt":"EGX-listed education outfit CIRA is borrowing EGP 375 mn from Ahli United Bank to finance fresh investments, the company said in a regulatory filing (pdf) yesterday. The company\u2019s board greenlit the decision earlier this week, the disclosure says. No further details or information were provided in the disclosure and a\u2026","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":594942,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/09\/11\/aub-agrees-to-loan-united-real-estate-subsidiary-egp-250-mn\/","url_meta":{"origin":547273,"position":4},"title":"AUB agrees to loan United Real Estate subsidiary EGP 250 mn","author":"enterpriseam admin","date":"11 September 2019","format":false,"excerpt":"An Egypt-based subsidiary of Kuwait\u2019s United Real Estate Company signed on Monday a five-year, EGP 250 mn loan with Ahli United Bank, the parent company said in a bourse disclosure picked up by Mubasher. The loan will be used to fund the company\u2019s Aswar Residences project in New Cairo.","rel":"","context":"In &quot;Banking + Finance&quot;","block_context":{"text":"Banking + Finance","link":"https:\/\/enterpriseam.com\/egypt\/category\/banking-finance\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":622023,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/11\/25\/constec-inks-egp-430-mn-agreement-with-sodic\/","url_meta":{"origin":547273,"position":5},"title":"CONSTEC inks EGP 430 mn agreement with SODIC","author":"enterpriseam admin","date":"25 November 2018","format":false,"excerpt":"Construction and Design (CONSTEC) was awarded contracts worth EGP 430 mn for construction works on SODIC\u2019s projects in the North Coast and New Cairo, which includes SODIC\u2019s Caesar compound in the North Coast, CONSTEC General Manager Ashraf Abdel Hakam told Al Masry Al Youm.","rel":"","context":"In &quot;Real Estate + Housing&quot;","block_context":{"text":"Real Estate + Housing","link":"https:\/\/enterpriseam.com\/egypt\/category\/real-estate-housing\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547273","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=547273"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/547273\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/547266"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/547274"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=547273"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=547273"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=547273"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=547273"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=547273"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}