We advised Morgan Stanley on its SEC-registered global offering

Davis Polk advised Morgan Stanley in connection with its SEC-registered global offering of $7.5 billion aggregate principal amount of senior notes, consisting of $2 billion fixed-to-floating-rate notes due 2024, $3.5 billion fixed-to-floating-rate notes due 2027 and $2 billion fixed-to-floating-rate notes due 2042. During each of the floating interest rate periods, the notes bear interest by reference to the Secured Overnight Financing Rate, or SOFR, compounded daily over each quarterly interest payment period.

The Davis Polk corporate team included partner Christopher S. Schell and counsel Michael Steinberg. The tax team included partner Po Sit and associate Lucy Mo. Partner Gregory S. Rowland, counsel Sarah E. Kim and associate Sijia Cai provided 1940 Act advice. 

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