MREL callables enter mainstream as ING debuts product

By Tyler Davies
27 Aug 2019

ING slapped a one year call option on a senior deal from its holding company on Tuesday — a practice that is rapidly becoming the norm for European banks considering how to meet their minimum requirements for own funds and eligible liabilities (MREL).

ING Group marketed a six year non-call five senior bond through BarclaysDeutsche Bank, ING, NatixisUBSand UniCredit.

It was the first time that the Dutch lender had structured a deal from its holding company to include a call option a year ahead of maturity.

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