Term:
Transferable revolving underwriting facility (TRUF)
Definition:
Similar to an revolving underwriting facility (RUF), but the underwriting banks’ contingent liability (backup line) to purchase notes in the event of nonplacement by the borrower is fully transferable
Domain:
Finance
Source:
Coordinated Portfolio Investment Survey Guide, Second Edition, International Monetary Fund, 2002, Washington DC. Appendix VI: Definition and Description of Instruments
