ING succeeds at long end

12 Jan 2011

ING Bank bucked the trend for defensive, short tenor trades on Tuesday, but on Wednesday it followed others in the senior market to price its bond at the wide end of guidance.

The Dutch bank drew in Eu530m of demand for its 10 year deal, but was forced to widen pricing from the initial indication of 160bp over mid-swaps.

Bankers away from the Eu500m deal were surprised by ING’s decision to go for a long maturity in an unsteady market — other senior unsecured ...

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