Committed Facility


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Committed Facility

Credit that is available to the borrower if and only if the borrower meets the requirements imposed by the lender. These requirements are often very strict. See also: Facility.
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References in periodicals archive ?
The new credit facility has resulted in raising total committed facility to USD300m.
The transaction will be financed from a committed facility arranged and underwritten by Deutsche Bank.
Mr Spellar said: "If they (Railtrack) were as viable as they are now saying, why weren't they able to draw down on their pounds 1bn committed facility which they could have had from the banks?
2 billion (approximately $345 million) committed facility that will allow CIT Global Vendor Finance to fund new originations in China.
At the year end of 2015 we had available cash of over $8m, having drawn only $15m of a $35m committed facility from Standard Chartered Bank.
According to Main Street, the recently closed facility provides several benefits to the firm including an expansion of the total committed facility size to USD 445m, including commitment increases by three existing lenders in the facility.
The package consists of a three-year committed facility to finance Land Rover's Parts and Accessories' inventories and receivables in the United Kingdom and the United States.
The company expects to close an additional USD60m of funding with new facility lenders soon, raising total committed facility to USD300m.
Vepco also has a $120 million committed facility used primarily to support certain tax exempt issues.
The new revised facility matures at the end of 2022, without any reduction in committed facility size before the end of 2020, which is after the slated Johan Sverdrup first oil date at the end of 2019.
Also, to provide the financing for the redemption the company stated that it signed a committed facility agreement with a financial institution and thus its obligation to redeem the shares will be based upon sufficient funds being available via such an arrangement.
The company recently signed a two-year committed facility with three banks.