Morgan Stanley $1.3 billion preferred stock offering
Davis Polk advised Morgan Stanley in connection with its $1.3 billion SEC-registered offering of 52,000,000 depositary shares, each representing a 1/1,000th interest in a share of its 4.250% non-cumulative preferred stock, Series O. Morgan Stanley intends to use the net proceeds from the sale of the depositary shares for general corporate purposes, including, but not limited to, the repurchase or redemption of outstanding preferred stock and related depositary shares.
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 counsel David S. Fisher. Partner Gregory S. Rowland, counsel Sarah E. Kim, associate Sijia Cai provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.