ING grabs first holdco T2 in nervous FIG market
ING successfully sold its first holding company level tier two since it changed its point of resolution last year, though new issue premiums have been rising and order books shrinking as European election fears set in.
Stable credit spreads and rising equity values on Wednesday did not necessarily reveal the extent to which market participants have become concerned about populist politicians gaining footholds in European countries such as France and the Netherlands.
“The market is not as good as you might think,” said
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