morgan-stanley-wins-sole-lead-mandate-on-upcoming-psa-bond-deal

Morgan Stanley wins sole lead mandate on upcoming PSA bond deal

Morgan Stanley leverages its relationship with PSA and brings home sole lead manager mandate for bond worth upwards of $1 billion.
Morgan Stanley has been awarded the role of sole bookrunner for the bond component of PSA InternationalÆs acquisition financing for Hutchison Port Holdings.

The $4.4 billion acquisition financing is to be funded through a combination of a $3.42 billion term loan and bond offering estimated to be worth around $1 billion.

Morgan Stanley represented PSA on the purchase and later, along with the Royal Bank of Scotland, provided a $1.8 billion bridging loan.

Given that Morgan Stanley underwrote the bridge loan it was always reckoned to be in the driverÆs seat when it came to winning the hotly contested bond mandate. However, the respective success of the loan facility had also seen the loan's underwriters...
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