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Documented discount notes

• Commercial paper backed by normal bank lines plus a letter of credit from a bank stating that it will pay off the paper at maturity if the borrower does not. Such paper is also referred to as LOC (letter of credit) paper.

• Commercial paper backed by normal bank lines plus a letter of credit from a bank stating that it will pay off the paper at maturity if the borrower does not. Such paper is also referred to as LOC (letter of credit) paper.

 
 Embedded terms in definition
 Bank line
Commercial paper
Commercial
Credit
Maturity
Paper
Plus
Will
 
 Related Terms
 

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