Bank borrowing facility to provide finance while the firm replaces US commercial paper with eurocommercial paper.
Copyright © 2012, Campbell R. Harvey. All Rights Reserved.
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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved