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Letters of credit (LOC)

Acquisition/equipment line

  • Acquisition/equipment lines (delayed-draw term loans) are credits that could be drawn down for the provided duration to shop for specified assets or gear, or even make acquisitions. A fee is paid by the issuer through the dedication period (a ticking charge). The lines are then paid back more than a certain period (the term-out period). Repaid amounts may not be reborrowed.
  • Bridge loans are loans which are designed to provide short-term financing to give a “bridge” to a secured asset purchase, relationship providing, stock providing, divestiture, etc. Generally speaking, connection loans are supplied by arrangers included in a financing package that is overall. Usually the issuer will consent to interest that is increasing in the event that loan isn’t paid back not surprisingly. For instance, that loan could begin at a spread of L+250 and ratchet up 50 basis points every six months the mortgage stays outstanding past a year.
  • Equity connection loan is a connection loan supplied by arrangers this is certainly anticipated to be paid back by a second equity dedication to a buyout that is leveraged. Continue reading