US banks target euros after Q3 results

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By Tyler Davies
21 Oct 2020

Morgan Stanley joined its peer Bank of America in accessing the longer end of the euro market this week, with US names faring well in the currency following several months of absence.

Morgan Stanley opened books on a self-led offering of nine year non-call eight senior bonds from its holding company on Wednesday. 

Initial price thoughts arrived in the 110bp area over mid-swaps, but the bank later guided investors towards a spread of 85bp-90bp.

A final deal worth €1.75bn ...

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