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What does revolving credit mean?

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revolving credit
(RC)
Noun


Financing made available to a borrower by bank lenders up to a maximum amount that may be drawn down, repaid and re-drawn up to the preset limit over a fixed period until the end of the facility’s availability period.

Synonym(s): 
  • credit; revolver; revolving credit facility (RCF); revolving credit line; revolving facility.
  • [LMA]: Facility B
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