Morgan Stanley’s CAD1 Billion Senior Notes Offering


Davis Polk advised Morgan Stanley in connection with its SEC-registered global offering.

Morgan Stanley issued an offering of CAD1 billion aggregate principal amount of floating-rate senior notes due 2023. The notes, which are denominated in Canadian dollars, were settled through CDS Clearing and Depository Services Inc. and offered in Canada to qualified purchasers on a private-placement basis. The notes are linked to Canadian Dollar Offered Rate (CDOR), the inter-bank bid rate for Canadian dollar bankers’ acceptances.

The Davis Polk corporate team included partner Christopher S. Schell (Picture) and associate Jeremy Larkins. The tax team included partner Po Sit and associate Lucy Mo. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Sijia Cai provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.

Involved fees earner: Sijia Cai – Davis Polk & Wardwell; Sarah Kim – Davis Polk & Wardwell; Jeremy Larkins – Davis Polk & Wardwell; Lucy Mo – 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