- issuing lender
USAThe party directly obligated to fund under a letter of credit. In a syndicated loan, one bank typically issues the letter of credit on behalf of the other revolving lenders who provide back-up to the issuing lender by taking pro rata participating interests in each letter of credit that is issued.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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