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CREDIT SUPPLY: INTNED Tier 2 Issue: Books >EUR2.75bn

CREDIT SUPPLY

ING (INTNED: Baa1 pos/A-/A+) is issuing Tier 2 sub debt today – books are now above EUR2.75bn (ex-JLMs). We see fair value around MS+170bp area (IPT is MS+210bp area).

  • “CORRECT: ING €Benchmark 11NC6 Tier 2 MS+210 Area”

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