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ING postpones sale of 15-year subordinated notes; initial talk at Treasuries plus 275 bps area
By Cristal Cody
Tupelo, Miss., Dec. 3 – ING Groep NV (Baa1/A-/A+) postponed plans to price fixed-rate subordinated resettable notes due Dec. 12, 2033, according to a market source.
The Rule 144A and Regulation S deal had been expected to price on Monday.
Initial price talk was in the Treasuries plus 275 basis points area.
Citigroup Global Markets Inc., Goldman Sachs & Co., HSBC Securities (USA) Inc., ING Financial Markets LLC and UBS Securities LLC were the lead managers.
The notes were to be non-callable for 10 years.
The global financial institution is based in Amsterdam.
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