Swingline Loan

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Swingline Loan

A large loan that a company may take out in order to repay other debts. A swingline loan is much like a line of credit or a demand loan, but differs in that it must be used to repay outstanding debt. See also: Refinancing, Debt consolidation.
References in periodicals archive ?
Recent exhibits on Matisse and Picasso, Andy Warhol and Ansel Adams have drawn thousands of visitors to the converted Swing-line stapler factory that has been MOM, s home since renovations began on its midtown Manhattan space in 2002.
5bn 364-day extendable multi-currency revolving credit facility with a Swedish krona swing-line option.
This senior credit agreement provides a $115 million senior secured credit facility consisting of a $100 million revolving credit facility, including a $20 million sub-limit for letters of credit and $10 million sub-limit for swing-line loans, and a $15 million term loan facility.
0 million secured revolving facility, letter of credit sub-facility and swing-line facility and a new $130.
In addition to liquidity agreements, NARCO is also supported by a $500,000 uncommitted swing-line facility, provided by Rabobank, and available to cover any minor timing mismatches.