Senior Unsecured Green Bonds
Morgan Stanley issues $500MM in green bonds to fund environmentally friendly projects
On June 3, 2015, Siebert Brandford Shank served as a co-manager on a $500MM, 3.5-year senior unsecured green bond offering for Morgan Stanley. The use of proceeds are intended to facilitate the financing of future renewable energy and energy efficiency projects, and will ultimately aid in reducing greenhouse gas emissions. From initial price thoughts to final pricing, spreads tightened by 12 basis points. The transaction settled on June 8, 2015. Post-pricing in the secondary market, the issue further tightened by as much as 8 basis points shortly after issue in round lot trading.