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 ?
The facilities for a total of USD 1.1 billion, include a 364-day USD 515 million (with an offshore Chinese renminbi option) facility, a 364-day USD 200 million swingline facility, as well as a 3-year USD 385 million facility.
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.