Freshfields heads up firms on ING restructuring and €7.5bn rights issue
Freshfields Bruckhaus Deringer, Sullivan & Cromwell and Stibbe have all landed roles on ING's restructuring, which includes a €7.5bn (£6.8bn) rights issue.
Sullivan and Stibbe have been instructed to advise on the bank's rights issue, which was launched yesterday (26 October) as part of a wider restructuring that will see the Dutch banking giant split into two.
The rights issue is being underwritten by a raft of banks including Goldman Sachs and JP Morgan, and is aimed at paying back 50% of the capital injection the bank received from the Dutch Government in 2008.
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