Browse the glossary:
A
B
C
D
E
F
G
H
I
J
K
L
M
N
O
P
R
S
T
U
V
W

Letter of credit

A loan in which the lender guarantees to repay a commitment incurred by the borrower, such as, for example, a trade debt.

Related stories

High yield energy names fuel US trading 10 months ago

US energy name trades actively on loan extension agreement 10 months ago

CDX HY name hits massive rally on talk of covenant amendments 10 months ago

Date scheduled for power company LCDS auction 1 year ago

Second-liens face near wipe-out in power default 1 year ago

Power cut as Boston Generating files for bankruptcy 1 year ago

Dynegy bonds trade down on Blackstone buy-out 1 year ago

S&P downgrades widely held CLO name to CCC 2 years ago

Homebuilder files bankruptcy with $370 million of debt 2 years ago