Morgan Stanley’s $6 Billion Senior Notes Offering

Davis Polk advised Morgan Stanley on the deal.

Morgan Stanley completed its global offering of $6 billion aggregate principal amount of senior notes, consisting of $2.5 billion floating-rate notes due 2023, $3.5 billion fixed-to-floating-rate notes due 2031. During each of the floating interest rate periods, the notes bear interest by reference to the Secured Overnight Financing Rate (“SOFR”), compounded daily over each quarterly interest payment period.

The Davis Polk corporate team included partner Christopher S. Schell (Picture) and associates Jeremy Larkins and Jack A. Liechtung. The tax team included partner Po Sit, counsel Alon Gurfinkel and associate Sunny Kim. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Sijia Cai provided 1940 Act advice.

Involved fees earner: Sijia Cai – Davis Polk & Wardwell; Alon Gurfinkel – Davis Polk & Wardwell; Sunny Kim – Davis Polk & Wardwell; Sarah Kim – Davis Polk & Wardwell; Jeremy Larkins – Davis Polk & Wardwell; Jack Liechtung – Davis Polk & Wardwell; Gregory Rowland – Davis Polk & Wardwell; Christopher Schell – Davis Polk & Wardwell; Po Sit – Davis Polk & Wardwell;

Law Firms: Davis Polk & Wardwell;

Clients: Morgan Stanley;

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Author: Ambrogio Visconti