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What does Euro commercial paper program mean?

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Euro commercial paper program
Noun
AE

A standardized issuance platform for Euro-commercial paper (ECP) in the public and private Euromarkets, whereby an issuer normally sets up the program using a bank as arranger and then places the paper with investors through a small group of dealers who have exclusive access to it on a best-efforts basis.

Synonym(s): 
  • ECP program; Euro-commercial paper program.
  • [BE]: Euro commercial paper programme
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