- Morgan Stanley is selling pieces of a $3 billion loan to banks, according to people with knowledge of the matter.
- The loan helps fund Royal Caribbean Cruises Ltd.'s purchase of a 50% stake in Sandals Resort International.
- The 364-day loan offers an interest rate of 1.125 percentage points over the Secured Overnight Financing Rate.
Quotes
“Morgan Stanley has invited banks to buy pieces of a $3 billion loan that helps fund Royal Caribbean Cruises Ltd.'s purchase of a 50% stake in Sandals Resort International, according to people with knowledge of the matter.”
“The $3 billion loan, with a maturity of 364 days, offers an interest rate equivalent to 1.125 percentage point more than the Secured Overnight Financing Rate, said the people, speaking anonymously as the deal information is private.”