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

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

Avangrid has a committed revolving credit facility, which allows committed access to liquidity at any moment.

From Reuters

All of the company's debt, with the exception of a revolving credit facility , will be cancelled, deleveraging about $5.6 billion, it added.

From Reuters