Midday Commentary: Recent ING U.S. notes seeing demand, trading better in secondary

By Aleesia Forni

Virginia Beach, Va., July 24 - Tuesday's new issue from ING U.S. Inc. continued to see demand in the secondary market early Wednesday, one trader said.

The notes traded 3 basis points better at mid-morning at 206 bps bid, 201 bps offered.

ING U.S. sold the $400 million of 5.7% 30-year senior notes at a spread of Treasuries plus 215 bps on Wednesday.

A trader at another desk had seen the notes closing at 209 bps bid, 203 bps offered.

The U.S. arm of Amsterdam-based financial services company ING Groep NV has its headquarters in New York.

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