asset-backed commercial paper

asset-backed commercial paper definition - finance
Commercial paper that is backed by assets of the issuer and is often abbreviated ABCP. Commercial paper is an unsecured promissory note that is sold by a corporation. It has a fixed maturity of 1 to 270 days and is usually sold at a discount from face value.

Webster's New World Finance and Investment Dictionary Copyright © 2003 by Wiley Publishing, Inc., Indianapolis, Indiana.
Used by arrangement with John Wiley & Sons, Inc.

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