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 defaults . Such paper is also referred to as L.O.C. paper.
DOCUMENTED DISCOUNT NOTES
Meaning of DOCUMENTED DISCOUNT NOTES in English
Campbell R. Harvey. Hypertextual finance English glossary. Английский словарь гипертекстовых финансов. 2012