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 ?

BMSC can borrow up to $500 million on the $1.5 billion revolver for letters of credit (LOCs) and swingline loans. In aggregate for all four borrowers, LOCs cannot exceed $500 million and swingline loans cannot exceed $150 million.

Fitch Affirms Buckeye Partners, LP; Rates Junior Subordinated Notes Offering 'BB'

The amended and restated credit facility is expected to include a USD400 million revolving credit facility, including a USD200 million letter of credit subfacility and a USD125 million subfacility for swingline loans, as well as a USD300 million term loan facility, of which USD200 million is expected to be outstanding upon completion of the company's private placement of convertible notes.

Blackhawk Network to amend and restate credit agreement

The amended and restated credit facility is expected to include a USD400 million revolving credit facility, including a USD200 million letter of credit sub-facility and a USD125 million sub-facility for swingline loans, as well as a USD300 million term loan facility, of which USD200 million is expected to be outstanding upon completion of the company's private placement of convertible notes.