Morgan Stanley sells $6.75 billion worth of bonds

2023-07-22 00:00:07

7/21/2023 8:00:07 PM (MENAFN- Al-Bayan)

The US investment bank Morgan Stanley joined the wave of bond selling in light of the increase in investors’ interest in subscribing to bonds of companies and institutions with good credit ratings.

Yesterday, Friday, Bloomberg News quoted an informed source as saying that the American bank sold bonds worth $6.75 billion, divided into 4 tranches in terms of each tranche.

The longest term is 11 years, which cannot be considered a decimal bond, with a return of 1.67 percentage points above the yield rate on US decimal bonds.

The initial discussions about the return rate on this tranche revolved around 1.85 percentage points above the Treasury bond yield.

Bloomberg indicated that the offering of Morgan Stanley bonds is the latest in a series of bond sales by US banks that announced their quarterly profits.

During this period, J.B. Morgan Chase bonds worth 4.5 billion dollars in two tranches
while sold
Wells Fargo & Co sold $1.725 billion in bonds on Monday, then sold $8.5 billion in two tranches last Tuesday, the largest bond offering in the bank’s history.

As of last Wednesday, the total value of bonds sold by the US banking sector for its own account since the beginning of this year amounted to $303 billion, equivalent to about 41% of the total bond sales of institutions and companies with good credit rating during the same period, according to data compiled by Bloomberg.

During the same period last year, the banking sector’s bond sales amounted to $394 billion, equivalent to 53% of the total sales of bonds with good credit rating.


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