Swingline facility

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 ?
5 million swingline facility, giving SureWest a total of $60 million in revolving commitments.
in 1972, Martin Yale, which had been operating in Chicago since the 1930s, moved its headquarters to Wabash in 1990 when the company acquired a former Swingline facility there.
The deal represents the second sale that S&Z has arranged for a Swingline facility in Long Island City.
CP maturities on any one day are limited to the Swingline facility amount, and maturities on any three consecutive business days are limited to 25% of outstandings.
Furthermore, noteholders benefit from a swingline facility provided to AFL by Rabobank.
GREYHAWK FUNDING INCREASE PROGRAM SIZE, ADDS SWINGLINE FACILITY & AMENDS CONCENTRATION LIMITS