Davis Polk advised Morgan Stanley in connection with its SEC-registered global offering of CAD$1 billion aggregate principal amount of fixed-rate senior notes due 2024. The notes, which are denominated in Canadian dollars, were settled through CDS Clearing and Depository Services Inc. and offered in Canada to qualified purchasers on a private-placement basis.

The Davis Polk corporate team included partner Christopher S. Schell and associate Steve Sorkin. The tax team included partner Po Sit and associates Andrew A. Smith and Mahalia S. Burford. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Colleen Blanco provided 1940 Act advice. All members of the Davis Polk team are based in the New York office.