Morgan Stanley added to the recent wave of bank bond sales in the US investment-grade market on Wednesday, a sign that issuance is still going strong as lenders emerge from earnings blackout periods.
The bank sold $6.75 billion of debt in a four-part deal, according to a person familiar with the matter, who asked not to be identified as the details are private. The longest dated portion of the sale, an 11-year note that can’t be called for 10 years, yields 1.67 percentage points over Treasuries after initial pricing discussions in the area of 1.85 percentage points, said the person.
Read More : Morgan Stanley Raises $6.75 Billion in Debt Sale Amid Bond Rush