Morgan Stanley $2 billion subordinated notes offering
We advised Morgan Stanley on its SEC-registered global offering
Davis Polk advised Morgan Stanley in connection with its SEC-registered global offering of $2 billion aggregate principal amount of fixed-to-floating-rate subordinated notes due 2037. During the floating interest rate period, the notes bear interest by reference to the Secured Overnight Financing Rate, or SOFR, compounded daily over each quarterly interest payment period.
The Davis Polk corporate team included partner Christopher S. Schell, counsel Vidal Vanhoof and associate Timothy DiPrisco. 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.