Morgan Stanley $1 billion preferred stock offering
Davis Polk advised Morgan Stanley in connection with its $1 billion SEC-registered offering of 40,000,000 depositary shares, each representing a 1/1,000th interest in a share of its 6.500% non-cumulative preferred stock, Series P. Morgan Stanley intends to use the net proceeds from the sale of the depositary shares for general corporate purposes.
The Davis Polk corporate team included partner Christopher S. Schell, counsel Vidal Vanhoof and associate Nicollette Farkas. The tax team included partner Po Sit and associate Dmitry Dobrovolskiy. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Leon E. Salkin provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.