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Backup line

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Backup line
A commercial paper issuer's bank line of credit covering maturing notes if, for some reason, selling new notes to cover the maturing notes is not possible.


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Getting paid eight [basis points] for a backup line of credit - that's no way to make a living," moans Shufeldt at SunTrust.
For example, if the program is protected by a 15 percent credit enhancement, a liquidity backup line of 85 percent will be necessary.
OTCBB:VSUS) whereby its Spare Backup subsidiary will bundle VSUS "MyOneScreen" Web application into its Spare Backup line of products.
 
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