In a transaction that will go a long way to reconfirming ING Barings' commitment to the securitization business after a disappointing couple of years, the Dutch bank has bought UBS's four asset-backed commercial paper conduits for an undisclosed sum.

ING already owns two A-1 rated conduits - Rembrant and Holland - but hopes that buying UBS's A1-plus rated vehicles will allow it to move from its niche business, which has concentrated on emerging markets, towards a more mainstream commoditized focus, particularly in Europe and Japan.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.