Morgan Stanley heads US issuers’ stellar return to euros

22 Oct 2009

Morgan Stanley priced Eu1.5bn of five year bonds late on Thursday, confirming European investors’ appetite for US banks after Goldman Sachs’ 10 year benchmark, which priced last Friday.

The transaction attracted an order book of Eu5bn following the bank’s announcement on Wednesday that it was back in the black with a profit of $757m for the third quarter.

It is the first time in more than a year that the bank has tapped the unguaranteed euro market. ...

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