Libor Challenger Embraced in Debut Commercial Paper Transaction.

Barclays Plc has become the first bank to issue commercial paper tied to the new benchmark that's been designed to succeed Libor in the dollar funding market. "Investor response was immediate, and fairly broad across different types of investors", Joe Muscari, head of securitized portfolio management at Barclays, said about the bank's commercial paper deal. [Extracted from the article]