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 ?

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.

Mercuria signs USD1.1b in revolving credit facilities in Asia

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.

Meeting the challenge: three area success stories

The deal represents the second sale that S&Z has arranged for a Swingline facility in Long Island City.