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 ?
The revolving credit facility represents an increase of USD1.5bn over its existing revolver capacity, providing it with capacity to continue to pursue its strategy post-closing of the merger.
In addition, the unsecured revolving credit facility incorporates a sustainability-linked pricing grid that reduces the borrowing spread if certain benchmarks are achieved each year.
The company said this revolving credit facility will be used to finance acquisitions and for general corporate purposes and is permitted under the current senior secured bond frameworks.
This amends and extends the company's present USD12.5bn revolving credit facility.
During the marketing period of the secured debt facilities, the first lien term loan and revolving credit facility both were upsized due to strong investor demand.
In conjunction with the refinancing, the company has eliminated its prior USD300m revolving credit facility.
The transactions are expected to include the amendment and restatement of Rite Aid's existing revolving credit facility: refinancing of the company's $1.04 billion tranche 2 term loan due in 2013 with the proceeds of a new term loan coupled with borrowings under the amended revolving credit facility: cash tender offers for Rite Aid's $1.06 billion aggregate principal amount of various senior secured notes and debentures, with the proceeds from new first and/or second lien term loans, coupled with borrowings under the amended revolver and available cash.
Summary: DUBAI - Credit rating agency Moody's downgraded the bonds of Dubai Holding Commercial Operations Group (DHCOG) on Monday, citing a deal with lenders to convert a $555 million revolving credit facility into a five-year term loan.
Just a week after it obtained a $200 million unsecured revolving credit facility that CFO Patrick Carroll, said would give it more financial muscle, Lexington Corporate Properties Trust (LXP) has acquired five industrial/manufacturing facilities in a sale/leaseback transaction with Dana Commercial Credit Corporation, a wholly-owned subsidiary of Dana Corporation.
The Haights Cross Operating Company (HCOC), a wholly owned HCC subsidiary, priced the $270 million capital structure consisting of a $30 million Senior Secured Revolving Credit Facility, a $100 million Second Priority Senior Secured Floating Rate Term Loan, and $140 million of Senior Unsecured Notes.
CHICAGO-TruServ Corp., based here, said last week that it reached an agreement with a lender that holds its revolving credit facility as well as holders of its senior notes to amend its financial agreements.
M2 EQUITYBITES-July 1, 2019-Jason Industries extends & amends revolving credit facility