Swingline Loan

(redirected from Swing Line Loan)

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 ?
This credit facility includes a USD250m letter of credit sublimit and a USD100m swing line loan sublimit, and a five-year senior unsecured term loan facility in an aggregate principal amount of USD1.1bn.
The facility, which expires in three years, comprises revolving credit loans, including both a swing line loan facility of up to CAD15m and a letter of credit facility of up to CAD15m.
A swing line loan is a short-term loan made directly by one lender, typically the administrative agent, to the borrower on shorter notice than is required for a syndicated loan from all of the lenders.