By Andrea Heisinger
New York, July 21 - Morgan Stanley priced $3 billion of senior unsecured notes (A2/A/A) in two tranches on Wednesday, a syndicate source away from the sale said.
A $1.25 billion tranche of 4% five-year notes priced at 99.655 to yield 4.077% with a spread of Treasuries plus 245 basis points.
The $1.75 billion tranche of 5.5% 10-year notes sold at 99.492 to yield 5.567% with a Treasuries plus 270 bps spread.
Both tranches are non-callable.
A source said he didn't see any price talk on the deal since it was announced in the afternoon and priced soon afterward.
Morgan Stanley & Co. Inc. was the bookrunner.
The financial services company is based in New York City.
Issuer: | Morgan Stanley
|
Issue: | Senior unsecured notes
|
Amount: | $3 billion
|
Bookrunner: | Morgan Stanley & Co. Inc.
|
Trade date: | July 21
|
Settlement date: | July 26
|
Ratings: | Moody's: A2
|
| Standard & Poor's: A
|
| Fitch: A
|
|
Five-year notes
|
Amount: | $1.25 billion
|
Maturity: | July 24, 2015
|
Coupon: | 4%
|
Price: | 99.655
|
Yield: | 4.077%
|
Spread: | Treasuries plus 245 bps
|
Call: | Non-callable
|
|
10-year notes
|
Amount: | $1.75 billion
|
Maturity: | July 24, 2020
|
Coupon: | 5.5%
|
Price: | 99.492
|
Yield: | 5.567%
|
Spread: | Treasuries plus 270 bps
|
Call: | Non-callable
|
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