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.

Freshfields heads up firms on ING restructuring and €7.5bn rights issue legalweek.com Wed, Oct 28, 2009