Commercial paper

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Commercial paper is an unsecured, short-term promissory note of a large firm, usually issued in denominations of $100,000 or more and having an interest rate somewhat below the prime rate.


Definitions

According to Financial Management Theory and Practice by Eugene F. Brigham and Michael C. Ehrhardt (13th edition),

Commercial paper. Unsecured, short-term promissory notes of large firms, usually issued in denominations of $100,000 or more and having an interest rate somewhat below the prime rate.

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