On the back of significant tightening of recent new issuance in debt capital markets, Morgan Stanley has remained a leader in the industry, experiencing strong momentum in 2009, serving as:

• lead manager for General Electric Capital Corp, pricing a US$4bn 30-year unsecured debt offering on January 8
• joint lead manager for Unilever's dual-tranche US$1.5bn issuance on February 9
• joint book runner for Roche, raising US$16.5bn in a six-tranche offering from Roche on February 18
• selling US$5bn of debt in three parts for Chevron Corp on Februrary 26
• active lead manager for Abbott Laboratories, selling US$3bn of debt in two parts on February 26
• on a US$3bn two-year floating-rate global benchmark for the World Bank on March 5.