CP tenors rise as investors seek higher yields.

The article reports on the quest of investors in the European commercial paper (ECP) market for higher yields as market levels declined and corporate paper remain in demand. The weighted average tenor was 84 days for all new ECP issues for July 2009. For the first half of the year, tenors reached 80 in May and June. At the end of July, the amount of corporate paper outstanding was 58.78 billion U.S. dollars.