Examples of Morgan Stanley in a sentence
Based upon and subject to the assumptions, procedures, factors, qualifications and limitations set forth in Morgan Stanley and Lazard’s respective written opinions, Morgan Stanley and Lazard advised the Abcam Directors that the Per-Share Consideration to be paid to holders of Scheme Shares in the Transaction was fair, from a financial point of view, to such holders as of the date of such opinions.
N.A.; Citigroup Global Markets Inc.; Citigroup Inc.; Credit Suisse Group AG; Deutsche Bank AG; HSBC Bank USA, N.A.; International Swaps & Derivatives Assn.; JP Morgan Chase & Co.; JP Morgan Chase Bank, N.A.; Markit Group Ltd.; The Goldman Sachs Group, Inc.; Goldman, Sachs & Co.; Morgan Stanley & Co., LLC; Royal Bank of Scotland, N.V.; Royal Bank of Scotland PLC; UBS AG; UBS Securities LLC; and HSBC Bank plc.
Third, we add hybrid bonds not identified by the aforementioned sources but reported by Morgan Stanley (2014).
However, after S&P’s standardization of hybrid bond terms in March 2011, the hybrid bond asset class has grown significantly and advanced into a mature segment of hybrid securities, especially in the European capital market with hybrid bonds preferably denominated in Euro (Helaba 2020; Scope Ratings 2021).9The main underlying driver of the hybrid bond market are coupon payments that are tax deductible under the tax code of the respective jurisdiction (Morgan Stanley 2014; S&P 2015).
Hybrid bonds issued by companies with a weaker issuer credit rating will be classified as 100% debt (see Moody’s 2013).effective maturity as 25 years (given that the cumulative step-up exceeds 25 bps after this period and becomes effective) and would consequently assign the hybrid bond with 50% equity content for the first five years (which is the maximum number of years for 50% equity treatment) (S&P 2008; Morgan Stanley 2014).