commercial paper

“There is voracious demand for any commercial paper that yields in excess of 5%,” he said.

"But I think anyone would take a single A Treasury over AAA commercial paper," he added.

No commercial paper has been issued as of March 31, the filing said.

Multiple options exist for parking cash, such as investing in short-term government securities, money market instruments and corporate commercial paper.

The three-month commercial paper yield had soared by more than 200 basis points in a few weeks from just above 3% in late September last year on concerns about possible debt defaults by property developers.