The tally of U.S. corporate entities drawing upon existing revolving credit lines since March 5 grew by $8.3 billion yesterday as companies continue efforts to shore up liquidity amid the coronavirus crisis.

The revolving credit drawdown total since March 5 — when LCD began tracking this info — is now $183.6 billion, via approximately 315 credit facilities. Historically, these revolving credit lines could go largely undrawn and might be used for working capital, as a backup line of credit or for corporate cash emergencies.

Many of these debt issuers have cited in SEC filings the coronavirus as the reason for tapping these lines, along with an "abundance of caution."

The Consumer Discretionary sector continues to comprise the bulk of the revolving credit drawdowns, with more than half the $184 billion coming via that sector.

Drilling deeper into that segment, automakers continue to dominate, while hotels and cruise lines entities also have been tapping revolving credits.

While the bulk of loan issuers drawing on revolving credit since March 5 are investment grade, lower-rated entities — those at single-B, triple-C and unrated — make up 19% of the activity (by volume).

The bulk of the revolving credit lines being drawn down, in the leveraged segment of the market most notably, mature in 2023-24.

LCD updates revolving credit drawdown activity daily.