revolving credit facility


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revolving credit facility

an arrangement (usually with a bank) that requires the borrower to undertake to make regular periodic payments into a designated account in return for the facility to borrow on that account up to a specified sum, the amount of which is usually expressed as a multiple of each contractual payment into the account. See FIXED SUM CREDIT.
References in periodicals archive ?
Outstanding loan balances on the revolving credit facility will accrue interest daily at a rate equal to LIBOR plus 1.
This unsecured revolving credit facility raises the company's borrowing capacity to USD400m from the USD200m as well as provides an accordion feature allowing for an additional USD350m of capacity, subject to customary terms and conditions, resulting in a maximum borrowing capacity of USD750m.
The new revolving credit facility is scheduled to expire on 31 January 2005.
Management explained that the commitment level on the revolving credit facility would continue at $200 million.
In March 2016, Lemminkainen had agreed on a EUR260m revolving credit facility of which EUR75m was available when agreed conditions were met.
Specialist materials company Allegheny Technologies (NYSE:ATI) revealed on Thursday that it has completed its Asset Based Lending (ABL) revolving credit facility to help secure its solid liquidity position.
Cosmetics company Revlon Inc (NYSE:REV) said on Thursday that it has completed the refinancing of its new USD140m 2011 revolving credit facility.