Revolving Underwriting Facility - RUF
A form of revolving credit in which a group of underwriters agrees to provide loans in the event that a borrower is unable to sell in the Eurocurrency market. These loans are generally provided through the purchase of short-term Euronotes.
Investopedia Commentary
A revolving underwriting facility differs from a note issuance facility (NIF) in that the underwriters provide loans instead of purchasing the outstanding notes that failed to sell. In either case, both RUF and NIF provide short- to medium-term credit in the Eurocurrency market.
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See also: Eurocurrency, Note, Note Issuance Facility - NIF, Revolving Credit, Underwriting
Also spelled: Revolving-Underwriting-FacilityRUF