ING takes dollars to new lengths with debut

ING’s head of long term funding Martin Nijboer told EuroWeek that the decision to issue the bank’s inaugural dollar covered bond on Tuesday was an easy one to make thanks to close to ideal market conditions and the opportunity to take down long term debt. The $1.5bn 10 year, pre-funding for 2013, was a strong statement as a debut trade. However, rivals in the market questioned whether it was priced too generously.