Short-term unsecured promissory notes issued by a corporation. The maturity of commercial paper is typically less than 270 days; the most common maturity range is 30 to 50 days or less. The New York Times Financial Glossary
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► See CP.
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commercial paper UK US noun [U] FINANCE
► loans that a company takes out for a short period of time from investors who have no security (= property that can be taken if they do not pay back a loan): »
Without access to commercial paper, companies struggle to pay salaries and buy supplies.
Financial and business terms. 2012.