ING Barings is leading its first European convertible bond for almost three years as it launches a €125m ($110m) equity-linked issue from Draka Holding, a Dutch cable manufacturer.

The Dutch bank is the lead manager and sole bookrunner of the Draka issue. The last time ING Barings was the bookrunner of a European convertible bond was back in June 1999, according to Dealogic, the investment banking research firm. The bank was the bookrunner of a convertible offering from Guillemot Corporation, a French information technology firm.