Morgan raises $150m
Created: Jan 16, 2009 10:00 AM
NEW YORK (Bloomberg) — Morgan Stanley, the securities firm that became a bank-holding company in September, raised $150 million in a reopening of a previous sale of government-backed notes.
Morgan Stanley, based in New York, sold $1.25 billion of the notes due in June 2012 on Wednesday, according to data compiled by Bloomberg. The debt floats at 35 basis points over the three- month London interbank offered rate. A basis point is 0.01 percentage point.
The bonds, guaranteed through the Federal Deposit Insurance Corp.'s Temporary Liquidity Guarantee Program, are rated Aaa by Moody's Investors Service and AAA by Standard & Poor's, their highest rankings.