Monday, Aug 20, 2007
Asset-backed commercial paper issuers, who borrow in the short-term debt market to invest in longer-dated assets such as mortgages and bonds, are struggling to find buyers as the fallout from the subprime crisis spreads
bloomberg.com: Asset-Backed Commercial Paper Issuers Struggle to Find Buyers
Issuers of asset-backed commercial paper in Europe failed to find buyers for more than half the debt maturing today because of the U.S. subprime mortgage rout.
About $2.5 billion of asset-backed commercial paper was sold out of the $6 billion that came due, said Saher Bin Jung, a commercial paper trader at Commerzbank AG in London.
Posted by chris :-)) @ 02:39 PM (127 views) Add Comment
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