Morgan Stanley has issued a $1 billion social bond to support affordable housing projects.
Morgan Stanley intends to allocate an amount equal to the net proceeds of the social bond to affordable housing projects, which aim to provide housing at affordable rates to low- or moderate-income individuals and/or families in the United States.
Morgan Stanley’s inaugural 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. The firm also has a track record of issuing and supporting innovative bonds that raise capital for positive environmental and societal impact. In 2013, Morgan Stanley helped support the first-ever corporate green bond, and in 2017, the firm priced the first public market bond deal for a community development financial institution (CDFI) to help advance economic opportunity i
