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Clifford Chance

Clifford Chance


How the NEU CP market can give European corporates access to the ECB's Pandemic Emergency Purchase Programme (PEPP)

4 May 2020

As part of the European Central Bank's pandemic emergency purchase programme (the PEPP), the Banque de France has, since the end of March 2020, been buying Neu CP. This client briefing looks at the following questions: (i) what is the PEPP and why has it been put in place, (ii) what is the relevance of the PEPP to the Neu CP Market and (iii) how can European corporates find out if the Banque de France can purchase any of their Neu CP under the PEPP?

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