Home > Term: backup line of credit
backup line of credit
A bank assurance of funds obtained by an issuer of commercial paper to protect the CP investor from default. The issuer pays a commitment fee to the bank.
- Part of Speech: noun
- Industry/Domain: Financial services
- Category: General Finance
- Company: Bloomberg
0
Creator
- Jessehe
-
(V.I.P) 32013 points - 40.13% positive feedback
