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Article: Morgan Stanley Issues Senior Notes - Analyst Blog
- Article from:
- Zacks Investment Research - Analyst Blog
- Article date:
- September 17, 2009
- Author:
CopyrightCopyright 2009 Zacks Investment Research. (Hide copyright information)
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Morgan Stanley Issues Senior Notes - Analyst Blog
On Sep 16, Morgan Stanley (
MS
) sold 10-year senior notes worth $3 billion that are expected to yield a (yield to maturity) YTM of 5.68% and about 225 bps over the U.S. Treasuries. Morgan Stanley was the sole lead manager for the sale. The notes were issued at a discount at $99.581. They are non-callable and carry a coupon rate of 5.625% and will mature on Sep 23, 2019.Â
The notes will pay coupons semi-annually with the first payment expected on Mar 23, 2010. The company will use the proceeds of the debentures for general corporate purposes. Both Standard &Poor's Ratings Services (S&P) and Fitch Ratings have assigned ...