Morgan Stanley sells US$8bil of bonds

Attractive proposal: The Morgan Stanley headquarters in New York. The longest portion of the offering, an 11-year security, yields 1.17 percentage point above Treasuries after initial discussions of around 1.4 percentage point. — Bloomberg

NEW YORK: Morgan Stanley became the latest big Wall Street bank to tap the US investment-grade market after reporting earnings, as strong investor demand helps lenders borrow at lower yields than would have been possible at the start of the month.

The lender sold US$8bil of bonds in four parts, according to a source.