Short-term, unsecured, and usually discounted promissory note issued by commercial firms and financial companies often to finance current business. Commercial paper, which is rated by debt rating agencies, is sold through dealers or directly placed with an investor.

"Commercial Paper" In Context

"Proceeds of the refunding bonds will be used to refinance approximately $190 million of taxable commercial paper notes, refinance other obligations, and pay various costs of issuance. Following the issuance of the bonds, approximately $116.2 ..."