Morgan Stanley Issues $1 Billion Social Bond to Support Affordable Housing
October 21 2020 - 3:27PM
Dow Jones News
By Stephen Nakrosis
Morgan Stanley said Wednesday it issued a $1 billion social bond
which would support projects providing affordable housing to low-
and moderate-income individuals and families in the U.S.
The company said it plans to allocate an amount equal to the
bond's net proceeds to affordable housing projects in the U.S.
The company said its first social bond "is part of the firm's
decade-long leadership in sustainable finance, which includes the
Morgan Stanley Institute for Sustainable Investing, established in
2013 to accelerate the mainstream adoption of sustainable
investing."
John Ryan, the company's treasurer, said "As the Covid-19
pandemic has unduly burdened many of our most vulnerable
communities, affordable housing for individuals and families has
never been more critical," and added "The proceeds from this
offering will help deliver and preserve housing solutions across
the United States, and empower investors to make a positive social
impact."
Write to Stephen Nakrosis at stephen.nakrosis@wsj.com
(END) Dow Jones Newswires
October 21, 2020 15:12 ET (19:12 GMT)
Copyright (c) 2020 Dow Jones & Company, Inc.
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Mar 2024 to Apr 2024
Morgan Stanley (NYSE:MS)
Historical Stock Chart
From Apr 2023 to Apr 2024
