A short-term, unsecured financing vehicle used typically by corporations to cover immediate credit needs . It is also used by money markets as a short-term investment vehicle.
- Commercial paper notes are short-term notes issued in denominations of $100,000 or in an integral multiple of $1,000 in excess of $100,000. The maturity of the notes cannot exceed 270 days from the date of issuance. (maturities ranging from 2 to 270 days).