Morgan Stanley, BlueOrchard in microfinance ABS

Friday, May 4, 2007

Investment bank Morgan Stanley and BlueOrchard Finance are launching a $108 million bond backed by loans to microfinance institutions that is the first to be rated by a major rating agency.

Microfinance hit the headlines last year when Muhammad Yunus of Bangladesh, who conceived the concept, and the Grameen Bank he founded won the Nobel Peace Prize.

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Source: Reuters (link opens in a new window)