ING sold a dollar-denominated additional tier one (AT1) this week, adding an influx of supply in the asset class in recent weeks. It will have the option to redeem its new bonds twice a year after the first call date, instead of the usual five years in all of its outstanding bonds.
ING Groep opened books for a dollar-denominated AT1 bond, with a perpetual maturity callable at 7.2 years, one day after Rabobanksold a bond for the lowest coupon ever seen in the AT1 market in euros.
ING and JP Morgan
acted as joint restructuring
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