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A greater amount of backup financing is needed.
As a result, CIT said it would draw upon backup financing and might have to sell certain businesses.
Other options open to the banks include providing lines of credit and other backup financing to the guarantors.
required Indonesia to agree to in return for a bailout package of $40 billion, including $3 billion in backup financing from the United States.
As a result, Xerox took advantage of its bank loan, which was meant merely as backup financing for its short-term debt.
All of this has put tremendous pressure on commercial banks, which are on the hook for billions of dollars in backup financing on top of bringing billions of dollars worth of buyout loans.
Similar(49)
The discount rate applies to loans the Fed makes for very short terms, to sound depository institutions, as a backup source of financing.
My plan was music but my backup plan was finance.
In the case above, had the CEO executed a dual-track process of pursuing the possible acquisition and keeping the bridge financing as a backup option, I think the outcome would have been far better for the company and the employees.
And if they're not sure whether a particular buyer is financially qualified, they'll usually ask for some backup proof of the buyer's finances".
(Unlike ordinary SIVs, all of the backup fund's debt will be fully protected by emergency financing committed by its big bank sponsors).
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Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com