Multi-Currency Line of Credit

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Multi-Currency Line of Credit

A line of credit on which a company may draw in one of several currencies. For example, the company may borrow from the same credit line in either U.S. dollars or euros, depending on its specific needs at the moment. A multi-currency line of credit may save a multinational corporation the time and expense incurred in foreign exchange transactions.
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In addition, Bush has completed an agreement with a consortium of banks providing for a new multicurrency line of credit up to $155 million.
The credit facility structure is unique for a REIT in that the new lines consist of a $400 million traditional three-year line of credit and a 364-day $100 million multicurrency line of credit that can be drawn in U.