CPs may be issued for tenors ranging between a minimum of fifteen (15) days and a maximum of two hundred and seventy (270) days, inclusive of any rollovers from the date of issue.                                                                                 In the case of a CP  programme/shelf registration, the Issuer has the discretion to issue several series/tranches of CPs with separate maturity dates or ‘re-open’ existing CP issues (where there is no change in the maturity date). CP Programmes are valid for a period of three (3) years but may be extended in accordance with the provisions of the Rules.