Morgan Stanley's efforts to improve the diversity of its workforce and senior management have not proceeded as quickly as Chief Executive James Gorman would have liked, he said in prepared testimony posted on Tuesday.
By Reuters Staff
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MILAN, May 25 (Reuters) - Intesa Sanpaolo on Monday issued a dual tranche TIER2 dollar-denominated bond for $1.5 billion, the Italian lender said in a statement on Tuesday, returning to the U.S. market after a two-year absence.
The bond, in two tranches of $750 million with maturities in 2032 and 2042, attracted orders worth more than $9 billion.
The yield on the 2032 paper was set at 260 basis points over the Treasury yield and at 275 basis points over the Treasury yield for the tranche due 2042.
Fund managers bought 78% of the issuance, while insurance companies and hedge funds took 5% each.
Barclays, Credit Suisse, Goldman Sachs, HSBC, JP Morgan, Morgan Stanley and Nomura were bookrunners for the issue, while Intesa Sanpaolo’s IMI CIB was financial advisor. (Reporting by Gianluca Semeraro, writing by Cristina Carlevaro; Editing by Kirsten Donovan)
Morgan Stanley Chief Executive Officer James Gorman has unveiled a slew of leadership changes at the bank with eyes on a successor for the top job, Bloomberg News reported on Thursday.
Chile's markets plunged on Monday after voters propelled leftist and independent groups to victory in an election over who will draft a planned new constitution, a major blow to the center-right ruling coalition that fared far worse than expected.
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KARACHI, Pakistan, May 16 (Reuters) - A local consortium has made a proposal to develop a major copper and gold mine in southwest Pakistan after a court decision blocked the mine’s development by a joint venture between Chile’s Antofagasta and Canada’s Barrick Gold.
Pakistan’s Supreme Court blocked the joint venture, Tethyan Copper, in 2013 from developing Reko Diq - one of the world’s biggest untapped deposits of copper and gold - following a court case over how the contract had been awarded.
Pakistan’s government was later ordered by a global arbitration body to pay $5.8 billion in damages after Tethyan Copper took it to court.