ING hit by weaker sentiment on return to AT1 market
ING was praised for pricing a coupon of 4.875% in what was the only financial institution trade of the week in the euro market. The lender had to brave much tougher market conditions in its second attempt at this bond issue, having pulled its first attempt amid news of its chief executive jumping ship.
When the trade was announced, some market participants said that ING should have to pay slightly more compared to the price it would have been able to achieve last week, which is what it ended up doing.Lead managers Credit Suisse, Goldman Sachs, ING,
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