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Morgan Stanley plans $3 billion note offering without FDIC backing
By Andrea Heisinger
New York, May 7 - Morgan Stanley announced late Thursday plans to issue about $3 billion in senior notes that are not backed by the Federal Deposit Insurance Corp., according to a press release.
The financial services company is also selling $2 billion in common stock.
Morgan Stanley & Co. Inc. is the bookrunner for the bond offering.
On Thursday it was revealed in the government's stress tests that Morgan Stanley came up $1.8 billion short in capital.
The company is based in New York City.
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