Multi-Currency Line of Credit

Multi-Currency Line of Credit

A line of credit on which a company may draw in one of several currencies. For example, the company may borrow from the same credit line in either U.S. dollars or euros, depending on its specific needs at the moment. A multi-currency line of credit may save a multinational corporation the time and expense incurred in foreign exchange transactions.
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The Board of Directors of the African Development Bank Group (AfDB) has approved a private sector multi-currency line of credit of US$ 100 million and 1.
FirstRand Bank Limited (FRB) of South Africa received approval from the Board of Directors of the African Development Bank (AfDB) for a seven-year $300 million multi-currency line of credit.
The US $300 million medium-term, multi-currency line of Credit to South Africa s FirstRand Bank Limited will be used to finance projects in a number of sectors and across a number of African countries.
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