ING Groep Prices $3 Billion in Callable U.S. Senior Notes Due 2032 and 2037

ING Groep ( (ING) ) has issued an update.

On March 23, 2026, ING Groep N.V. filed a Form 6-K detailing an underwriting agreement dated March 16, 2026 with a syndicate led by BMO Capital Markets, BofA Securities, Citigroup, ING Financial Markets, J.P. Morgan, Scotia Capital and Wells Fargo for a new U.S. dollar debt offering. The filing also documents a Ninth Supplemental Indenture with The Bank of New York Mellon, London Branch, covering issuance of $1.5 billion 4.803% callable fixed-to-floating rate senior notes due 2032 and $1.5 billion 5.420% callable fixed-to-floating rate senior notes due 2037, supported by legal and tax opinions, underscoring ING’s continued use of U.S. capital markets for long-term funding.

The transaction, executed under ING’s automatic shelf registration, expands the group’s senior funding stack in medium- and long-dated maturities and reflects ongoing investor demand for its credit in the U.S. institutional market. By putting in place detailed contractual recognition of U.S., EU and UK resolution and bail-in regimes, ING aligns the notes with current regulatory requirements for bank debt, which is relevant for institutional investors assessing recovery frameworks and for regulators overseeing the bank’s loss-absorbing capacity profile.

The most recent analyst rating on (ING) stock is a Buy with a $33.00 price target. To see the full list of analyst forecasts on ING Groep stock, see the ING Stock Forecast page.

Spark’s Take on ING Stock

According to Spark, TipRanks’ AI Analyst, ING is a Outperform.

Overall score driven primarily by mixed financial performance (notably leverage and negative free cash flow) balanced by favorable technical momentum and supportive valuation. The latest earnings call adds incremental strength via upgraded guidance and ongoing capital returns, tempered by higher risk costs and capital/RWA headwinds.

To see Spark’s full report on ING stock, click here.

More about ING Groep

ING Groep N.V. is a Dutch-based global financial institution operating primarily in banking and financial services, with a strong presence in retail and wholesale banking across Europe and international capital markets. The group regularly issues senior debt securities in U.S. markets under its Form F-3 shelf registration to support funding, capital management and balance sheet needs.

Average Trading Volume: 2,792,298

Technical Sentiment Signal: Buy

Current Market Cap: $71.83B

For detailed information about ING stock, go to TipRanks’ Stock Analysis page.