Multiple Choice
Which of the following about P-notes is incorrect?
A) Commercial paper issued in the euromarkets uses a 360-day convention.
B) The credit rating of a P-note issuer needs to be investment grade.
C) A dealer panel is chosen on their ability to distribute the paper to the market.
D) If the lead manager has arranged a tender panel, then the members of the panel do not have any obligation to buy.
Correct Answer:
Verified
Correct Answer:
Verified
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