Multicurrency loans

Multicurrency loans

Gives the borrower the possibility of drawing a loan in different currencies.

Multicurrency Loans

Loans in which the borrower, at his/her discretion, may receive the funds from the loans in more than one currency. Some multicurrency loans only use two currencies, while others give the borrower the choice of several currencies. Multicurrency loans are particularly useful to multinational corporations that wish to reduce the foreign exchange risk in financing a project that may need to occur in several countries at once. See also: Dual currency issue.
References in periodicals archive ?
National City offers a full line of cross-border financing and credit, including structured trade finance, letters of credit, multicurrency loans, alternative financing and a host of web-based products and services to meet the demands of global enterprise.
Lending rates for multicurrency loans were cut by 0.
NSC renewed and amended its multicurrency credit agreement in October 2010 and reduced the facility size from up to $20 million for multicurrency loans, letters of credit and standby letters of credit.