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ING Bank To Raise $2.5B In Debt

ING Bank, a unit of ING Groep, has launched a three-part $2.5 billion debt offering.

    ING Bank, a unit ofING Groep, has launched a three-part $2.5 billion debt offering,The Wall Street Journalreports. The offering includes a $1.4 billion three-year floating-rate piece, a $500 million three-year fixed rate piece and a $600 million 10-year piece.

    The sale proceeds will be used for general corporate purposes, including repayment of outstanding debt securities.Morgan Stanley, ING,Deutsche BankandGoldman Sachsare the joint bookrunning managers for the deal.

    Click here for the story fromThe Wall Street Journal.

    Click here for additional coverage fromReuters.

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