BARCELONA - A number of conference participants last week said they anticipate the asset-backed commercial paper market, particularly in the single-seller and extendible paper arenas, to experience growth this year as companies look to diversify funding sources.

"What we see the most of, in the near future, is the growth of extendible paper," said Andrew Jones, a managing director at Dominion Bond Ratings Service. "Extendibles have been common in single-seller programs, but now the entire industry is looking at this across the ABCP universe - including multi-sellers, who could use it as a back-up," Jones said.

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