Facility

(redirected from Bank Credit Facility)
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Facility

A loan extended by a bank to a business in need of operating capital. This may take several forms, from a short-term loan to a line of credit. Different banks have different facility plans for their clients who own or run businesses. See also: Debt financing.
References in periodicals archive ?
The company has decreased the borrowing base under its revolving bank credit facility to USD150m from USD350m
The net proceeds of the issuance will be invested in First National Financial LP, which in turn will repay a portion of the outstanding amount drawn on its bank credit facility, the company said.
The total consideration for the deal was $218 million, which was half funded through borrowings under a bank credit facility offered by National Australia Bank Ltd.
Swedish property company Kungsleden AB (STO:KLED.ST) (Oslo:KGLED01.OL) announced today that it has conducted an early refinancing of its existing syndicated bank credit facility comprising a loan amount of SEK4.5bn, including unutilised amounts, with an original maturity date in January 2015.
reports bank credit facility borrowing base(C)1994-2012 ENPublishing - http://www.enpublishing.co.uk
TELECOMWORLDWIRE-August 17, 2011-CalAmp amends bank credit facility and retires 12% subordinated notes(C)1994-2011 M2 COMMUNICATIONS http://www.m2.com
US carrier Northwest Airlines has announced that it has successfully restructured its USD975m revolving bank credit facility that was due to mature in October 2005.
Sun dipped below $1 following the company's announcement that the impact of PPS on its 1998 financial results would probably cause it to be out of compliance with certain financial covenants in its bank credit facility. Sun said it had requested an amendment from its banks to address the issue.
According to the company, the new loan facility replaces the prior senior secured bank credit facility with JPMorgan Chase Bank NA, which had a borrowing base of USD0 and is secured by the same collateral that secured the prior facility.
The Asian Development Bank credit facility will target in particular firms run by women, who are mostly engaged in subsistence trade and retail activities, and are typically less educated and have less access to SME finance than men.
Net proceeds of the issuance are to be invested in First National Financial LP that are to repay a portion of the outstanding amount drawn on its bank credit facility.