ING to redeem USD 552 million Additional Tier 1 instrument
01 Août 2017 - 10:03PM
ING Group announced today it will redeem all outstanding USD 522
million of 8.439% non-cumulative guaranteed trust preferred
securities, issued by ING Capital Funding Trust III, on 30
September 2017, in line with ING's goal to continuously optimize
its capital structure. The initial size of the security was USD
1,500 million and the bond was subject to a tender offer in
2011.
The securities (CUSIP 44978NAA3) will be redeemed in full in
accordance with their terms, with payment to be made on 29
September 2017, which is the day prior to the redemption date and
the last weekday of the calendar month. Distributions due on the
redemption date will be paid in the usual manner, to holders of
record as of 28 September 2017. The paying agent for the securities
is The Bank of New York Mellon, 101 Barclay Street, Floor 7E, New
York, New York 10286.
Any future decisions by ING as to whether it will exercise (or
cause to be exercised) calls in respect of debt securities will be
made on an economic basis, taking into account the interests of all
stakeholders. Other factors that ING will consider include
prevailing market conditions, regulatory approval and capital
requirements.
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Christoph Linke |
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ING Group Investor
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+31 20 576
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+31 20 576
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Christoph.Linke@ing.com |
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ING PROFILE
ING is a global financial institution with a strong European
base, offering banking services through its operating company ING
Bank. The purpose of ING Bank is empowering people to stay a step
ahead in life and in business. ING Bank's 52,000 employees offer
retail and wholesale banking services to customers in over 40
countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA
AS, ING.AS), Brussels and on the New York Stock Exchange (ADRs: ING
US, ING.N).
Sustainability forms an integral part of ING's strategy, which
is evidenced by the number one position among 395 banks ranked by
Sustainalytics. ING Group shares are being included in the
FTSE4Good index and in the Dow Jones Sustainability Index (Europe
and World) where ING is among the leaders in the Banks industry
group.
IMPORTANT LEGAL INFORMATION
Elements of this press release contain or may contain
information about ING Groep N.V. and/ or ING Bank N.V. within the
meaning of Article 7(1) to (4) of EU Regulation No 596/ 2014.
Certain of the statements contained herein are not historical
facts, including, without limitation, certain statements made of
future expectations and other forward-looking statements that are
based on management's current views and assumptions and involve
known and unknown risks and uncertainties that could cause actual
results, performance or events to differ materially from those
expressed or implied in such statements. Actual results,
performance or events may differ materially from those in such
statements due to, without limitation: (1) changes in general
economic conditions, in particular economic conditions in ING's
core markets, (2) changes in performance of financial markets,
including developing markets, (3) consequences of a potential
(partial) break-up of the euro, (4) potential consequences of
European Union countries leaving the European Union, (5) changes in
the availability of, and costs associated with, sources of
liquidity such as interbank funding, as well as conditions in the
credit markets generally, including changes in borrower and
counterparty creditworthiness, (6) changes affecting interest rate
levels, (7) changes affecting currency exchange rates, (8) changes
in investor and customer behaviour, (9) changes in general
competitive factors, (10) changes in laws and regulations, (11)
changes in the policies of governments and/or regulatory
authorities, (12) conclusions with regard to purchase accounting
assumptions and methodologies, (13) changes in ownership that could
affect the future availability to us of net operating loss, net
capital and built-in loss carry forwards, (14) changes in credit
ratings, (15) ING's ability to achieve projected operational
synergies and (16) the other risks and uncertainties detailed in
the most recent annual report of ING Groep N.V. (including the Risk
Factors contained therein) and ING's more recent disclosures,
including press releases, which are available on www.ING.com. Any
forward looking statements made by or on behalf of ING speak only
as of the date they are made, and, ING assumes no obligation to
publicly update or revise any forward-looking statements, whether
as a result of new information or for any other reason.
This document does not constitute an offer to sell, or a
solicitation of an offer to purchase, any securities in the United
States or any other jurisdiction.
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