revolving credit

Zions has filed a lawsuit to recover more than $60 million that it lent to investment funds that were using revolving credit facilities to buy distressed commercial mortgage loans.

The company plans to retire the shares of the common stock and fund the TKO share purchase using some $150 million from a revolving credit facility, according to the filings.

Morgan Stanley's transaction kept the loans, a portfolio of revolving credit lines to private funds, called subscription lines, on its balance sheet, according to the sources and the regulatory filing.

Avangrid has a committed revolving credit facility, which allows committed access to liquidity at any moment.

All of the company's debt, with the exception of a revolving credit facility , will be cancelled, deleveraging about $5.6 billion, it added.