Swingline facility

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Swingline facility

Bank borrowing facility to provide finance while the firm replaces US commercial paper with eurocommercial paper.

Swingline Facility

A line of credit or other loan that a bank extends to a company to help pay down its debt. A swingline facility is most useful when a company is having difficulty with its debt service. See also: Loan consolidation.
References in periodicals archive ?
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.
In addition, the program added a $150 million uncommitted swing-line facility, provided by WestLB.