MS Seeks Peru Sol Bond

Morgan Stanley is preparing to sell PES400m-PES500m in new global 9-year bonds, denominated in soles and payable in US dollars, according to investors. The books opened Thursday, with pricing expected Tuesday in a 7.0%-7.2% range, according to investors. Morgan Stanley, Banco de Credito del Peru and Itau are managing the sale. Bankers on the deal did not return calls seeking comment on the rationale for the trade and use of proceeds.