By Laura Contemori – ROME (Econostream) – Dutch lender ING Bank N.V. on Monday priced a dual-tranche €1.75 billion covered bond offering, comprising a €750 million 8-year tranche and a €1 billion 12-year tranche.

The 8-year tranche carries a 3.500% fixed annual coupon and will mature on September 14, 2034. The transaction was priced at mid-swaps plus 27bp and reoffered at a price of 99.295, for a yield of 3.603%.

The 12-year tranche carries a 3.75% fixed annual coupon and will mature on September 14, 2038. The tranche was priced at mid-swaps plus 38bp and reoffered at a price of 99.261, for a yield of 3.828%.

Settlement is scheduled for September 14, 2026.

BBVA, Commerzbank, DZ Bank, Erste Group, ING, NatWest and Santander acted as lead managers.

The deal was priced at 14:21 CEST (13:21 BST).