revolving credit

American  

noun

1. credit automatically available up to a predetermined limit while payments are periodically made.

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revolving credit British  

noun

1. a letter of credit for a fixed sum, specifying that the beneficiary may make repeated use of the credit provided that the fixed sum is never exceeded

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Etymology

Origin of revolving credit

First recorded in 1915–20

Example Sentences

The streaming giant said it entered into a senior unsecured revolving credit agreement that provides up to $5 billion in financing for the Warner Bros. merger deal.

From MarketWatch

The revolving credit facility will mature three years after the Warner Bros. deal closes, three years after the deal is terminated, or by Dec. 19, 2030–whichever occurs earliest, according to the filing.

From The Wall Street Journal

Zions has filed a lawsuit to recover more than $60 million that it lent to investment funds that were using revolving credit facilities to buy distressed commercial mortgage loans.

From The Wall Street Journal

The company plans to retire the shares of the common stock and fund the TKO share purchase using some $150 million from a revolving credit facility, according to the filings.

From Los Angeles Times

Morgan Stanley's transaction kept the loans, a portfolio of revolving credit lines to private funds, called subscription lines, on its balance sheet, according to the sources and the regulatory filing.

From Reuters