Davis Polk & Wardwell advised Morgan Stanley on its $5.75 billion SEC-registered offering guaranteed under the FDIC’s Temporary Liquidity Guarantee Program. The offering consisted of $2.25 billion of 2.9% notes due 2010, $2.5 billion of 3.25% notes due 2011, $500 million of floating–rate notes due June 2011 and $500 million of floating–rate notes due December 2011.

Morgan Stanley is a leading global financial services firm providing a wide range of investment banking, securities, investment management and wealth management services. The firm’s employees serve clients worldwide, including corporations, governments, institutions and individuals from more than 600 offices in 35 countries.

The Davis Polk corporate team included partners Warren Motley, John M. Brandow and Luigi L. De Ghenghi, counsel Christopher S. Schell and associate Vijay Selvam (admitted only in the Supreme Court of England and Wales). Partner Po Sit and associates Andrew A. Smith and Devasish Majumdar (not yet admitted) provided tax advice. Eileen Malone was the legal assistant for the transaction. All members of the Davis Polk team are based in the New York office.