ING Barings has secured its second European high yield bond mandate this month, as part of the debt package backing the acquisition of DIY firm Wickes by Duke Street Capital.

The bank will manage a £85m (€141m) bond sale which, alongside £252m of senior bank debt, forms the debt portion of the £489m buy-out. It is unclear when the bond will be issued, so ING Barings has underwritten a £85m mezzanine loan to be refinanced by the bond.