Firstrand - RMB and Morgan Stanley Announce Intern
FSR
FSR
Firstrand - RMB and Morgan Stanley Announce International Debt Distribution
Cooperation Agreement
FIRSTRAND LIMITED
(Incorporated in the Republic of South Africa)
(Registration number: 1966/010753/06)
ISIN: ZAE000066304
Share Code: FSR
RAND MERCHANT BANK AND MORGAN STANLEY ANNOUNCE INTERNATIONAL DEBT
DISTRIBUTION COOPERATION AGREEMENT
Johannesburg, 13 September 2006. Rand Merchant Bank, a division of
FirstRand Bank Limited ("RMB"), and Morgan Stanley have entered into an
agreement to provide comprehensive offshore financing services jointly to
South African entities.
Specifically, RMB and Morgan Stanley will work together in relation to
global investment-grade and non-investment-grade bonds and securitisation
offerings of local assets for their South African corporate clients. These
services will complement the local financing services that RMB and Morgan
Stanley already offer separately to South African entities.
The agreement provides a framework to combine Morgan Stanley"s extensive
global distribution platform and global debt capital markets expertise with
RMB"s pre-eminent standing in the South African corporate community.
This initiative comes shortly after the formal launch of RMB Morgan
Stanley, an equity distribution, sales and trading and research joint
venture between the two investment banks.
"RMB and Morgan Stanley have complementary strengths which are being
combined to offer a broader, more competitive service to the South African
market," says Beth Mandel, Managing Director and Head of Morgan Stanley
South Africa (Pty) Ltd.
RMB CEO Michael Pfaff says: "Morgan Stanley has the distribution channels
into the global capital markets and we have strong relationships with SA
corporates. Put these together and you allow SA corporates easier access to
international capital markets."
Sandton
13 September 2006
Sponsor
RAND MERCHANT BANK (A division of FirstRand Bank Limited)
Date: 14/09/2006 07:00:06 AM Produced by the JSE SENS Department
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