ING builds bumper book for tier two trade

Will Caiger-Smith

February 19, 2014 01:30 pm

ING branch large — CLUJ NAPOCA, ROMANIA - AUGUST 26: ING Bank branch on August 26, 2012 in Cluj-Napoca. ING Group serves customers in 45 countries and had 5.77bn EUR profit in 2011. | Marek SLUSARCZYK

Investors piled into ING’s issuance of tier two debt on Tuesday, with lead managers building a €5bn book for the €1.5bn deal. But despite a strong pipeline building in additional tier one, tier two debt is not expected to be quite as busy.

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Will Caiger-Smith