Eurocommercial Paper
An unsecured, short-term loan issued by a bank or corporation in the international money market, denominated in a currency that differs from the corporation's domestic currency. Investopedia Says:
For example, if a U.S. corporation issues a short-term bond denominated in Canadian dollars to finance its inventory through the international money market, it has issued eurocommercial paper. Related Terms:
Commercial Paper
Corporation
Eurocurrency
Loan
Money Market
Short Term
Unsecured Loan |