Eurocommercial Paper


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Eurocommercial Paper

A short-term, unsecured loan issued by a corporation in a currency other than the one in which the corporation operates. Corporations issue eurocommerical papers in order to tap into the international money markets for their financing. Like other commercial papers, eurocommercial papers are rarely for a term longer than a few months and they are usually issued at a discount. An example of a eurocommercial paper is a British firm issuing debt in U.S. dollars to encourage investment from dollar-investors in international money markets. See also: Eurodollar.
References in periodicals archive ?
Rating $150 million Eurocommercial paper program A-1 $90.
The Company's US Dollar denominated debt corresponds to a US $30 million eurocommercial paper, with maturity in 2009, and which represents approximately 5% of GEO's total debt.
Since 1993, Grupo Protexa has been successful in obtaining financing through 25 issues of Eurocommercial paper for a cumulative amount of $382 million, of which to date only 3 issues remain outstanding, totaling $69 million.
Citibank was also awarded top tier positions in derivatives, project finance, global custody, syndicated loans and Eurocommercial paper.
Since 1993, Grupo Protexa has been successful in obtaining financing through 25 issues of Eurocommercial paper for a cumulative amount of 382 million dollars, of which to date only 3 issues remain outstanding, totaling 69 million dollars.