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- Morgan Stanley (NYSE:MS) is said to have become the first American company to tap China’s panda bond market, with a 2 billion yuan ($279 million) offering.
- Morgan Stanley BV, the firm’s investment management arm, priced its five-year notes at 1.98% on Thursday, Bloomberg reported, citing people familiar with the matter.
- That’s about five basis points higher than the average yield of similar yuan-denominated corporate notes.
- The offering is the first Panda bond issued by a US firm, according to Bloomberg-compiled data.
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