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Note Issuance Facility

   Also found in: Acronyms, Encyclopedia, Wikipedia 0.01 sec.
Note issuance facility (NIF)
An agreement by which a syndicate of banks indicates a willingness to accept short-term notes from borrowers and resell these notes in the Eurocurrency markets.

Note Issuance Facility
An agreement by a syndicate of banks to buy short- and/or medium-term notes from an issuer in the event that it is unable to sell the notes on eurocurrency markets. This effectively provides credit for the issuer because, even if the issuer cannot place an issue, it will still be able to raise the funds it seeks. A note issuance facility thereby reduces the risk to an issuer of short- and medium-term debt securities.


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The rating assigned to the FRNs is based on the credit quality and match-funded nature of the underlying collateral, the $20 million subordinated capital note issuance facility, Commerzbank's strong administrative capabilities, and the program's sound legal structure.
Torstar Corporation announced today that its Board of Directors has approved the filing of a preliminary shelf prospectus relating to a $200 million Medium Term Note Issuance Facility ("MTN").
 
 
 
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