Morgan Stanley Sells $6.75 Billion of Debt Amid Bond Rush
- Wall Street lender raked in roughly $29 billion of orders
- 11-year portion yields 1.67 percentage points over Treasuries
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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.