Morgan Stanley preps direct lending securitization

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Morgan Stanley preps direct lending securitization

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David San Segundo Navas -AVILA-/David San Segundo - Fotolia

Morgan Stanley is arranging a trade receivables ABS for Gedesco, a Spanish non-bank SME factoring company, in what will be a rare publicly syndicated term offering in the asset class. Most of the deal, however, is backed by direct lending to Spanish mid-cap firms.

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