Backup line

A commercial paper issuer's bank line of credit covering maturing notes if, for some reason, selling new notes to cover the maturing notes is not possible.

Backup Line of Credit

A bank's guarantee of an issuer's commercial paper. Commercial paper is a short-term, unsecured debt security usually issued by a company with a very high credit rating. As a result, commercial paper is very low-risk. The backup line provides additional security for the paper, but usually does not provide credit for the full value of the paper. The issuer pays a fee to the bank for the backup line.

单词	backup line
释义	Backup line Backup line A commercial paper issuer's bank line of credit covering maturing notes if, for some reason, selling new notes to cover the maturing notes is not possible. Backup Line of Credit A bank's guarantee of an issuer's commercial paper. Commercial paper is a short-term, unsecured debt security usually issued by a company with a very high credit rating. As a result, commercial paper is very low-risk. The backup line provides additional security for the paper, but usually does not provide credit for the full value of the paper. The issuer pays a fee to the bank for the backup line.
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