Note Issuance Facility - NIF

A syndicate of commercial banks that have agreed to purchase any short to medium-term notes that a borrower is unable to sell in the eurocurrency market.

Investopedia Says:
The NIF acts as an underwriter. Should the borrower be unable to sell all notes, the syndicate is obligated to purchase all the remaining notes from the borrower, essentially providing credit. Note issuance facilities are useful in reducing risk and costs for both the borrower and the lender.

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Revolving credit arrangement in the Euromarket, whereby the borrower issues short-term promissory notes (Euronotes) in its own name, generally with maturities of three to six months. A group of underwriting banks guarantees the availability of funds by agreeing to purchase any unsold notes at each Rollover date, or by writing a standby line of credit. NIFs offer companies the flexibility of short-term financing, and give lenders an opportunity to meet credit needs of borrowers without being required to purchase any unsold notes. The revolving line of credit is often negotiated through a single bank that in turn sells participations to other members of the underwriting syndicate. See also Revolving Underwriting Facility; Standby Note Issuance Facility; Tender Panel.