ING Belgium to make rare covered bond return

By Bill Thornhill
12 Feb 2020

ING Belgium has mandated lead managers for its first covered bond since September 2018 and its fifth since the programme’s inception in 2013. The prospective deal may just avoid being issued with a negative yield, but it’s a close call.

The Belgian subsidiary of ING Bank is set to open order books on Thursday for a 10 year benchmark through joint leads Barclays, DZ Bank, ING, LBBW, Nykredit, Santander and UniCredit

The euro deal will be rated Aaa/—/AAA and secured on prime Belgian ...

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