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.
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.
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).
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.
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.
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.
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.
The majority of euro commercial paper issuing and trading takes place in London.
- EUR500 million euro commercial paper programme: affirmed at 'F1'
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.
has assigned a Prime-1 rating to the $500 million Euro commercial paper (Euro CP) program
BANKING AND CREDIT NEWS-November 8, 2011--Moody's sets Prime-1 rating to SMBC's euro commercial paper programme(C)2011 M2 COMMUNICATIONS http://www.m2.com