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ING Groep talks €500 million green tier 2 notes due 2032 to yield mid-swaps plus 140 bps area
By Rebecca Melvin
Concord, N.H., June 2 – ING Groep NV was pricing €500 million 11-year green tier 2 notes (expected ratings: Baa2/BBB/A-) early Wednesday to yield in the area of 140 basis points over mid-swaps, according to a market source.
The notes are non-callable until March 9, 2027, and then ING may redeem all, but not only some, of the notes during a three-month window at par plus accrued and unpaid interest.
The Regulation S-only notes are being sold via BofA Securities, BNP Paribas, Credit Agricole CIB, ING and UniCredit as joint bookrunners.
The global financial institution is based in Amsterdam.
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