Updated from Tuesday, June 30Morgan Stanley ( MS) and Mitsubishi UFJ ( MTU) announced a loan marketing joint venture and other initiatives, building on an existing relationship. Morgan Stanley MUFG Loan Partners is expected to generate "attractive credit opportunities for both firms and provide clients in the U.S., Canada and Latin America," the companies said in a joint statement on Tuesday. The joint venture will be capitalized at $500,000, the companies said. Morgan and Mitsubishi UFJ also will refer to each other new business opportunities in capital markets, loans, fixed income sales and other ancillary businesses in Asia, Australia, Europe, the Middle East and Africa. The Bank of Tokyo-Mitsubishi UFJ, a MUFG subsidiary, also will refer clients to the Morgan Stanley Capital Group for commodities business. Mitsubishi UFJ last year invested $9 billion in Morgan Stanley, as the Wall Street bank reeled in the darkest days of the financial crisis. "We are delighted to be strengthening our strategic alliance with MUFG through these important initiatives," Morgan Stanley Chairman and CEO John Mack said in the statement. "Looking ahead, the newly formed loan marketing JV provides our clients with even stronger financing capabilities, and the commodities referral agreement gives MUFG's clients access to an industry-leading commodities platform." Nobuo Kuroyanagi, Mitsubishi UFJ's president and CEO said the partnership "demonstrates that our strategic alliance with Morgan Stanley is delivering significant tangible benefits." "I am confident that the initiatives we have announced today will enhance both companies' global presence, enable us to better meet the needs of our respective clients and generate increased revenues," he said. In a separate agreement, MUFG employees will be sent to Morgan Stanley to "maximize the benefits of the strategic alliance," the companies said.