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.

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References in periodicals archive ?

Milan: Fitch Ratings has assigned Snam S.p.A.'s (BBB+/Stable/F2) EUR1.0 billion Euro Commercial Paper (ECP) Programme a 'F2' rating.

Fitch Assigns Snam's EUR1.0 Billion Euro Commercial Paper Programme 'F2' Rating

The bank received approval earlier this year to raise funds with up to $5bn worth of short-term instruments, including $3bn through certificates of deposits and euro commercial paper worth $2bn.

Doha Bank plans rights issue to raise capital by 20%

Moody's Investors Service has today assigned a local and foreign currency provisional (P)A3 long term and a definitive Prime-2 short-term rating to Al Khalij Commercial Bank (al khaliji) Q.S.C.'s (AKB, A3 long term deposit ratings with a stable outlook; baseline credit assessment ba1; Prime-2 short term ratings) $1 billion Euro Commercial Paper (ECP) and Certificate of Deposit (CD) Program through its funding subsidiary AKCB Falcon Limited (Issuer).

Moody's assigns ratings to Euro Commercial Paper and Certificate of Deposit Program of al khaliji

P-1 rating to the $2 billion Euro commercial paper (CP) and certificate of deposit (CD) programme established by Bank of China Limited (BOC), Tokyo Branch.

Moody's assigns P-1 to Bank of China's CP and CD Programme

However, they declined two per cent since the end of June, which the bank said was due to euro commercial paper being classified separately from customer deposits.

ADCB posts Dh2.13b nine-month profit

12 December 2011 - Fitch assigned today a short-term foreign currency issuer default rating (IDR) of F1 to South Korea's Korea Gas Corp (SEO:036460), or KOGAS, as well as an F1 rating to its USD4bn (EUR3bn) euro commercial paper programme.

-KOGAS' gets F1 rating from Fitch for USD4bn CP programme

Split into two tranches, the first tranche of $2 billion will be used for general corporate purposes, while the second tranche of $500 million will be earmarked to backstop refinancing of any issuances under Mubadala's recently-established Euro Commercial Paper programme.

Mubadala ties up $2.5b credit

The majority of euro commercial paper issuing and trading takes place in London.

Lord London visits Pakistan

- EUR500 million euro commercial paper programme: affirmed at 'F1'

Fitch Affirms La Poste at 'A+'; Outlook Stable

ADCB's short-term interbank liabilities, including issuance of Euro commercial paper, have also risen in recent periods and the Bank's net liquid asset ratio continues to be very low.

Capital Intelligence affirms ratings on Abu Dhabi Commercial Bank (ADCB)

has assigned a Prime-1 rating to the $500 million Euro commercial paper (Euro CP) program

Moody's assigns Prime-1 to DBJ's Euro CP Program

-Moody's sets Prime-1 rating to SMBC's euro commercial paper programme

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