ING €1 billion 3% Tier 2 notes issue

Overview:

• ING has issued €1 billion in subordinated notes.
• The 3% notes are due April 11 2028 and count as Tier 2 capital.
• UBS and ING acted as joint lead managers. 
• According to the FT, the notes are designed to hedge against regulatory uncertainty over the Tier 2 capital rules.

Rani Mehta - Journalist