Morgan Stanley $3 billion senior notes offering
Davis Polk advised Morgan Stanley in connection with its SEC-registered global offering of $3 billion aggregate principal amount of fixed-to-floating-rate senior notes due 2025. 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 and counsel Vidal Vanhoof. The tax team included partner Po Sit and associate Lucy Mo. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Sijia Cai provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.