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Comments on the status of the Euro commercial paper (CP) market in Europe as of July 2004. Total new issuance in 2004; Maturities for financial names; Increases in market shares per category.

Reports on the publication on March 3, 2003 of the Financial Markets Association's final recommendations on its short term Euro paper initiative, aimed at establishing a clear pan-European regulatory framework for the Euro denominated short term securities market. Impact of the framework on commercial paper issues; Policies of market regulators that adversely affected EuroCP issues; Analysis of the European Central Bank's role in implementing the framework.

Reports on the plan of Tulip Funding Corp. to issue extensible notes and floating rate commercial paper in the EuroCP market. Speculation on the structure and maturity of the offering; Amount of the planned offering; Reason of Tulip Funding Corp. for its plan; Status of the commercial paper market in Europe.

Presents information on the recommendations published by the International Primary Market Association and the Issuing and Paying Agents Association for conventions in the Euro commercial paper market. Features of the recommendations; List of minimum tradeable amounts under the conventions; Ruling of the convention on issuing and paying agents.

The article reports that several euro-funding sovereign, supranational and agency issuers have backed off from the market after benefiting from favourable basis swaps. According to commercial paper (CP) dealers, sterling issuance is not as pronounced since the favoured issuers have dropped their euro targets. It highlights some large sterling tickets that were traded in the week ending September 30, 2011.

The article reports on developments pertaining to the commercial paper (CP) market in Europe as of September 30, 2011. It discusses the introduction of the European Financial Stability Facility (EFSF), and the call of European CP dealers for further action to improve the funding conditions in the region. It highlights the concerns of investors over the bank exposures to the troubled European market.

The article reports that sovereign, supranational and agency (SSA) issuers took a back seat in the commercial paper (CP) market due to the tightening of the basis swap between U.S. dollars and euros. The situation gave bankers an opportunity to provide liquidity, especially in shorter maturities. According to data from Dealogic, SSA issuers sold 5.568 billion U.S. dollars equivalent of paper in the euro commercial paper (ECP) market.

The article reports on the decision of Network Rail not to return to the Euro Commercial Paper (ECP) market but instead has started issuing in the U.S. CP market in December 2010. According to Dealogic, Network Rail is yet to issue an ECP for five years since 2006. The company also has been focusing on the U.S. market taking advantage of competitive pricing and a favourable swap from dollars into sterling. Also noted is the current status of the European CP market and its resilience to eurozone volatility.

The article reports that top quality sovereign, supranational and agency (SSA) names in Europe are benefiting from the euro-dollar basis swap and a flight to quality mentality among investors. Issuers such as KfW, Rentenbank and Caisse d'Amortissement de la Dette Sociale were able to obtain cheap funding while offering attractive levels. Meanwhile, there has been a growing concern regarding the market for commercial paper (CP).

The article reports on activities in the Euro Commercial Paper (ECP) market, particularly the deals made by KfW and Bank Nederlandse Gemeenten (BNG) which benefited from the basis swap involving the euro and the U.S. dollar.

The article reports that Spanish and Portuguese banks and the Republic of Portugal have increased their spreads in the commercial paper market in Europe which allowed them to issue large volumes with long maturities. The biggest issue was that of Santander, which includes 550 million euros at 3 months and 200 million euros at 200 days. Banesto and Banco Comercial Portugues had their share of issues.

The article reports that the lack of issuer demand for short-dated funding has negatively affected the performance of European commercial paper.

The article reports on the plan of Belgian and Scandinavian states to launched their medium term notes (MTNs) and commercial paper (CP) in 2010, such as Wallonia, Belgium and North Rhine-Westphalia, Germany.

The article examines the trend of European commercial paper issued at longer maturities than normal. The trend of issuing at six months to a year was attributed to investors' strategy of searching for more yield. Among the commercial paper issuers discussed were Barclays, Santander and Nationwide Building Society.

Presents an update on the performance of the Euro commercial paper (ECP) market as of July 28, 2005. Asset backed Euro CP outstandings; Top ECP issuing currencies of the week; Top Euro CP issuers of the week.

The article reports on the complaints of bankers that activity in the commercial paper (CP) market in Europe is low in December 2009. One dealer suspects that corporations have already been fulfilled in the term market, while financials have partly been fulfilled in the long end. Another dealer says Korean interest is still good, but banks are becoming less flexible on rates or currencies.

The article reports on the decision of New Zealand to increase the size of its European commercial paper (ECP) programme from one billion to five billion U.S. dollars. The decision was based on the expectation that the issue would be well received by investors in the ECP market. The programme was arranged by Citi, while Barclays Capital, Citi, Deutsche Bank and UBS serve as dealers.

This article focuses on the European commercial paper (ECP) programme launched by Kommunalkredit Austria on August 17, 2009. According to dealers, there was positive reception for the facility in spite of tightening spreads. The ECP programme is worth three billion euros. During this week, maturities have lengthened and spreads tightened in the ECP market. Also, the average tenor has been growing as investors look for better yield and many issuers have ample short term liquidity.

The article reports that minimal changes were seen in the European commercial paper (ECP) market despite the move of the European Central Bank (ECB) to lessen rates through short-term lending. A total of 1,121 banks were given loans by the central bank which totaled 442 billion euros. The said loans were able to lessen interbank rates.

The article reports on the strong performance of asset backed commercial paper (ABCP) market due to healthy levels of new issuance in the market. Participants in the Global ABS conference, which was held in London, England, in June 2009, talked about the lack of new transactions in the ABCP market. According to Dealogic, outstanding ABCP in the European commercial paper market is reduced at the end of June 2008 and June 2007.

The article reports that several sovereign issuers sold large tickets in the European commercial paper (CP) market mostly in dollar transactions as of May 1, 2009. It notes that the activity was attributed to the basis swap rate available. Total issuance in the market was $63.11 billion. The biggest borrower were the State of the Netherlands, The Hellenic Republic and the Republic of Italy.

The article reports on changes to swap in the European commercial paper (CP) market. According to dealers in the market, tighter basis swap will allow dollar-based companies to offer higher spreads in other currencies. It is noted that many triple-A euro-based issuers had benefited from the wider basis swap.

The article reports on the concerns of the euro commercial paper (CP) dealers on the possibility that the European Central Bank (ECB) will raise the interest rates after its president Jean-Claude Trichet hinted the increase. The comments made by Trichet has led to an increase in the short term money market rates. Dealers said that the comments have aggravated the troubled market. Another dealer said that the euro is affected by the U.S. dollar liquidity.

The article reports that sovereign, supranational and agency issuers have benefited from the increasing fears among banks over the financial system in Europe. However, bank volumes, at $41 billion, were only $7 billion less compared to a previous week in April 2008. According to a commercial paper (CP) head, the overall trend is characterised by traditional flight to quality flows. Most dealers agreed that demand was name-specific, rather than being based on the rating or spread of issuers.

The article presents an analysis of the European commercial paper market. Bank risk managers, concerned by growing inventories overlooked $1 trillion market backwater and sent traders to shift unwanted stock. One leading European bank is offering ABCP investors a free DVD with every order, while another has been spamming electronic mail accounts.

The article presents an update on the commercial paper market in Europe as of January 2007. Nomura led a $50 million five year deal for a regional bank in the Middle East. Raiffeisen Zentralbank has debuted its medium term notes (MTN) dealership for the Republic of Austria. A Brazilian real-linked note in another format was issued by KfW.

The article presents an update on syndicated loans in Europe as of August 11, 2006. The debt raised by telephone directory company Yell to support its acquisition of Spain's TPI is proven popular in the secondary market. A Eu2.8 billion loan issued by French cable firm Numericable continued to struggle in the market. The euro denominated term loan supporting the leveraged buy-out of Dutch media group VNU by the Valcon consortium was swapped at a bid/offer spread of 99.50/99.875.

The article reports on the expected finalisation of Deutsche Bank's securitisation of German commercial real estate SPV German Residential Funding PLC in Europe. It will be funded in the commercial paper market. The entire securitisation deal totals Eu2.66 billion and is being completed in conjunction with Fortress' initial public offering of its German property assets.

The article presents an update on the European commercial paper (EuroCP) market as of July 2006. EuroCP outstandings remain strong despite slow investor demand. Cruise line company Carnival has added Bank of America to the dealer panel of its EuroCP programme.

The article presents an update on the European commercial paper (CP) market. The U.S. Federal Open Market Committee's 16th consecutive rate rise by 25 basis points issued in May 2006 had a significant impact on sterling issuance. Spain's Bankinter has launched inaugural trades from its Eu5 billion EuroCP programme. The Bank of Cyprus conducted test issues from its Eu500 million EuroCP programme.

The article presents an update on syndicated loans in Europe as of March 2006. The tranches on the leveraged loan of Ineos were trading at a bid/offer spread of 101.375/101.50. The bookrunners for the loan for Prysmian Cables and Systems met resistance during the initial syndication and has decided to relaunch the deal. Italian telecommunication company Wind has also struggled in the primary market but is trading up on the secondary side.

The article presents an update on the commercial paper (CP) market in Europe as of March 2006. Ixis Financial Products has entered a $20 billion partially supported, multiseller asset backed CP shelf with Versailles CDS LLC. Depfa Bank is the first foreign issuer to set up a domestic Swedish krona CP programme, with its recently established Skr5 billion facility.

The article presents an update on the commercial paper market as of March 2006. The economy of Germany is recovering and raising expectations. The U.S. Federal Open Market Committee raised interest rates to 4.75%. Euro commercial paper accounted for 39% of issuance for the week ended March 31.

The article presents updates on the issuance of leveraged loans in the financial services industry in Europe as of March 24, 2006. The trading of the B tranche of French satellite company Eutelsat is at about 101 as of the period. The B portion of the deal of CVC Capital Partners is said to be active. The deal of Dutch plastics manufacturer Basell is priced at around 102.

The article reports on the status of the European commercial paper (ECP) market as of March 2006. Investors are interested in ECP with long dated tenors. The overnight rate of sterling declined from 4.8%-4.9% to 4.5%. Banco Popular Espanol has delayed the launch of its ECP program until March 20 to 23.

The article reports on the performance of the euro commercial paper (ECP) as of February 3, 2006. According to bankers, they expect the U.S. Federal Reserve to be close to ending its series or rate increases. Euro denominated issuance has posted a 42 percent market share. Vodafone has returned to the ECP market. Bankers expect that market flow will improve in the coming weeks.

The article presents updates on commercial paper (CP) in the financial services industry as of December 9, 2005. MBIA Asset Management, a branch of the U.S. monoline bond insurer, plans to launch an asset backed commercial paper conduit in 2006. Inaugural tranche of CP is expected to be launched by the European and U.S. programs of Anglesea Funding PLC in January 2006.

The article presents updates on EuroCommercial Papers (CP) in the financial services industry in Europe as of November 25, 2005. A multicurrency EuroCP program is expected to be signed by Banco Popular Españl. The first issue from a multicurrency EuroCP program was issued by Marriott International. Maiden trades of a deal was printed by Golden Key. Johnson & Johnson and Honeywell are expected to launch their first issues. An increase in rates for the deal is expected by bankers from European Central Bank.

The article reports on the signing of the European commercial paper programme of Chelsea Building Society in England on November 15, 2006. Royal Bank of Scotland is the arranger of the transaction. The programme aims to add flexibility to the funding activities of the company. The asset backed conduits are increasing their issue levels and widening spreads to attract investors.

Presents an update on the European commercial paper (ECP) market as of October 7, 2005. Information on the coupon ticket printed by BCP Finance Bank; Plan of the Kingdom of Denmark to return to the ECP market through a sovereign bond issue by November; Stock performance of Euro denominated issuance, dollar and sterling bonds.

Reports on the status of the commercial paper (CP) corporate issuance in U.S. and Europe in 2005. Success of the Cullinan Finance structure finance vehicle deal launched by HSBC in September; Demand for sterling denominated unsecured CP; Possible launch of a CP program in euro by Emirates Bank International.

Reports on the status of the Euro commercial paper (ECP) market as of June 3, 2005. Impact of interest rates of European Central Bank on trading flows; Support of investors for buying commercial paper issues; Background on ECP deals launched by several companies, including electronics manufacturer Siemens.

Focuses on the growth in Euro commercial paper (ECP) in Europe in the first quarter of 2005. Percentage increase in ECP deals; Value of the asset backed ECP programme of ING Bank; Key to the success of the asset backed ECP product.

Focuses on the performance of the Euro commercial paper (ECP) market as of March 2005. Effects of the decision of MPC to hold rates on the sterling money funds; Banks that plan to venture into the ECP market; Structured deals that contributed to the increase in share of CP issuance in the asset-backed sector.

Focuses on the status of the European commercial paper (CP) market as of January 27, 2005. Increase in the number of CP issuers; Background on a CP programme arranged and owned by KBC Financial Products UK; Purpose of the programme.

Presents information on the commercial paper (CP) market in Europe in 2005. Value of total new issuance in the EuroCP market; European countries receiving increase in demand for sovereign supplies from central banks in Europe and Asia; Plans of Depfa Deutsche Pfandbriefbank to issue its CP program.

Focuses on the growth of the asset backed commercial paper (ABCP) market in Europe. Factors impacting the growth of the ABCP sector; Issues surrounding the growth of the European ABCP market; Outlook of bankers and investors for the market.

Presents updates on corporate bonds as of November 12, 2004. Decision of Ford Motor Credit Co. concerning the terms on its bond issue; Impact of several challenges in the U.S. automobile sector on the corporate bond market in Europe; Information on a subordinated debt to be issued by automobile financing company Volkswagen Bank.

Presents a commentary on the European commercial paper (ECP) market as of September 10, 2004. Value of total new issuance in the EuroCP market; Activity in the maturity curve of the EuroCP market; Percentage recorded by banks, financial institutions and corporations of their share of new deals in the EuroCP market.

Presents opinion from several Euro Commercial Paper bankers on the increase in the volume of commercial papers being traded in the European financial market as of August 2004. Implications of the increase in the demand for commercial paper in the market; Plan of Co-operative Bank and the Landesbank Saar to issue commercial papers following the establishment of their commercial paper programs.