New Issue: Morgan Stanley sells upsized C$400 million 4.85% bonds due 2016 at 230 bps spread

By Cristal Cody

Prospect News, Jan. 27 - Morgan Stanley sold an upsized C$400 million of 4.85% five-year Maple bonds (A2/A/DBRS: A) at 99.943 to yield 4.863% on Thursday, an informed source said.

The series F senior debentures due Feb. 3, 2016 priced in line with guidance at a spread of 230 basis points over the Government of Canada bond curve.

The deal was upsized from C$300 million.

Morgan Stanley, BMO Capital Markets Corp., Scotia Capital Inc. and RBC Capital Markets Corp. were the bookrunners. Co-managers included TD Securities Inc., National Bank Financial Inc., Desjardins Securities Inc. and CIBC World Markets Inc.

The financial services company is based in New York City.

Issuer:	Morgan Stanley
Amount:	C$400 million, increased from C$300 million
Maturity:	Feb. 3, 2016
Securities:	Maple bonds/senior debentures
Bookrunners:	Morgan Stanley, BMO Capital Markets Corp., Scotia Capital Inc., RBC Capital Markets Corp.
Co-managers:	TD Securities Inc., National Bank Financial Inc., Desjardins Securities Inc., CIBC World Markets Inc.
Coupon:	4.85%
Price:	99.943
Yield:	4.863%
Spread:	230 bps over Government of Canada bond curve
Pricing date:	Jan. 27
Settlement date:	Feb. 3
Ratings:	Moody's: A2
	Standard & Poor's: A
	DBRS: A
Distribution:	Canada
Price talk:	230 bps over Government of Canada bond curve

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