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Deal Details

C/PIndustryStatusTicker(s)Issuer(s)Size(m)TranchesRegionDate
IGC
FNCL
LNCH
INTNED
ING Groep NV (ING)$1,250
1EMEA
Nov 4, 2026
currency
USD
size (m)
1,250.000
maturity
-
type
Fixed Rate Reset
tenor
Perp
call
5.00
registration
Reg S Only
benchmark
-
ranking
Additional Tier 1
moody's
-
s&p
BBB-
fitch
BBB
size description
-
re-open/tap
No
ipt
8.25% area
ipt-pxd
-50
guidance
STL
spread
-
coupon
-
spread set
-
price
-
yield
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
book size (m)
-
peak book (m)
-
x-covered
-
book attrition
-
nic
-
billing & delivering
active leads
joint leads
passive leads
-
co-managers
-
coordinating managers
-
Tranche Comments
First Pay: 2027-05-16; Redemption: 2031-11-16; Registration: Reg S Only; Comments: Tax Call: Yes. Clean-Up Call: 75%. Regulatory Call: Yes. LEI: 549300NYKK9MWM7GGW15;
Use of Proceeds
General corporate purposes and to strengthen the capital base of the Issuer
Relative Value

COMPS

Ticker

Coupon

Issue Date

Call

Bid PX

YTC

G-Sprd

I-Sprd

Reset

INTNED

4.25

Sep-21

May-31

87.22

7.64

292

324

G+286.2

INTNED

7

Sep-25

Nov-32

98.45

7.32

254

291

i+359.4

INTNED

6.5

Feb-26

Nov-33

93.89

7.64

282

321

i+284.6