By Andrea Heisinger
New York, March 19 - Morgan Stanley sold $2 billion of 4.75% five-year senior notes on Monday to yield Treasuries plus 360 basis points, a source away from the deal said.
The notes (A2/A-/A) were sold at 99.82 to yield 4.791%. The paper is non-callable.
Morgan Stanley & Co. LLC ran the books.
Morgan Stanley's last sale of five-year paper was priced on April 26, 2011 with a coupon of 3.8% and spread of 180 bps over Treasuries. The New York City-based financial services company was last in the market with a reopening of 5.5% notes due 2021 to add $1 billion on Oct. 27, 2011.
| Issuer: | Morgan Stanley
|
| Issue: | Senior notes
|
| Amount: | $2 billion
|
| Maturity: | March 22, 2017
|
| Bookrunner: | Morgan Stanley & Co. LLC
|
| Coupon: | 4.75%
|
| Price: | 99.82
|
| Yield: | 4.791%
|
| Spread: | Treasuries plus 360 bps
|
| Call: | Non-callable
|
| Trade date: | March 19
|
| Settlement date: | March 22
|
| Ratings: | Moody's: A2
|
| Standard & Poor's: A-
|
| Fitch: A
|
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