ING successfully completes liability management offers
(Thomson Reuters ONE) -
NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION TO ANY U.S. PERSON (AS DEFINED
BELOW) OR IN OR INTO OR TO ANY PERSON LOCATED OR RESIDENT IN OR AT ANY ADDRESS
IN THE UNITED STATES, ITS TERRITORIES AND POSSESSIONS OR TO ANY PERSON LOCATED
OR RESIDENT IN ANY OTHER JURISDICTION WHERE IT IS UNLAWFUL TO DISTRIBUTE THIS
DOCUMENT.
ING successfully completes liability management offers
* 64% of holders have accepted the exchange offers
* Proposals successfully passed to change terms and conditions of ING
Verzekeringen N.V. securities
On 8 March 2012, ING launched three separate exchange offers and consent
solicitations on a total of three series of senior debt securities of ING
Verzekeringen N.V. with a total nominal value of EUR 2.6 billion.
Holders had the possibility to exchange into new securities issued by ING Groep
N.V. and/or consent to a modification of existing terms. The offers were made on
the terms and conditions as set out in the Exchange Offer and Consent
Solicitation Memorandum dated 8 March 2012. The exchange offer deadline and the
early consent solicitation deadline were 16 March 2012. The consent solicitation
deadline was 27 March 2012.
On average 64% of holders have accepted the exchange offer. The total nominal
amount of new securities to be issued by ING Groep N.V. in exchange for the
existing ING Verzekeringen N.V. securities is EUR 1,654,063,000.
The proposals to amend the terms and conditions of each series of the existing
ING Verzekeringen N.V. securities, which were the subject of the consent
solicitations, were passed at the meetings on 30 March 2012.
The expected settlement date for the exchange offers and consent solicitations
is 4 April 2012.
Amount Consent
Accepted / Fee
ISIN Curr. Amount Coupon Maturity to be Exchange
Offered issued by Ratio
ING Groep
N.V.
-----------------------------------------------------------------------------------
XS0236243548 EUR 600,000,000 3.5% Nov-12 347,120,000 100% 0.25%
XS0267516911 EUR 1,000,000,000 3m?+17.5bps Sep-13 730,335,000 100% 2.50%
XS0267516598 EUR 1,000,000,000 4.0% Sep-13 576,608,000 100% 0.25%
This document is not an offer of securities for sale, a solicitation of an offer
to buy or a tender offer for securities in the United States or any other
jurisdiction. The exchange offers are not being made within, and this document
is not for distribution in or into, the United States of America or to any U.S.
person (as defined in Regulation S under the United States Securities Act of
1933, as amended (the "Securities Act")). Securities may not be offered, sold or
delivered in the United States absent registration under, or an exemption from
the registration requirements of, the Securities Act. The new securities to be
issued in connection with the exchange offers described above have not been, and
will not be, registered under the Securities Act or the securities laws of any
U.S. state or other jurisdiction of the United States and may not be offered,
sold or delivered, directly or indirectly, within the United States or to, or
for the account or benefit of, U.S. persons.
Press enquiries Investor enquiries
Ingeborg Klunder Karin de Jong
+31 20 576 6371 +31 20 576 6295
ingeborg.klunder(at)ing.com karin.de.jong(at)ing.com
ING PROFILE
ING is a global financial institution of Dutch origin, offering banking,
investments, life insurance and retirement services to meet the needs of a broad
customer base. Going forward, we will concentrate on our position as an
international retail, direct and commercial bank, while creating an optimal base
for an independent future for our insurance and investment management
operations.
IMPORTANT LEGAL INFORMATION
Certain of the statements contained in this document 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) the implementation of ING's restructuring plan to
separate banking and insurance operations, (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) the frequency and severity of
insured loss events, (7) changes affecting mortality and morbidity levels and
trends, (8) changes affecting persistency levels, (9) changes affecting interest
rate levels, (10) changes affecting currency exchange rates, (11) changes in
investor, customer and policyholder behaviour, (12) changes in general
competitive factors, (13) changes in laws and regulations, (14) changes in the
policies of governments and/or regulatory authorities, (15) conclusions with
regard to purchase accounting assumptions and methodologies, (16) changes in
ownership that could affect the future availability to us of net operating loss,
net capital and built-in loss carry forwards, (17) changes in credit-ratings,
(18) ING's ability to achieve projected operational synergies and (19) the other
risks and uncertainties detailed in the risk factors section contained in the
most recent annual report of ING Groep N.V.
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 buy, any securities.
PDF version of the press release:
http://hugin.info/130668/R/1598717/504202.pdf
This announcement is distributed by Thomson Reuters on behalf of
Thomson Reuters clients. The owner of this announcement warrants that:
(i) the releases contained herein are protected by copyright and
other applicable laws; and
(ii) they are solely responsible for the content, accuracy and
originality of the information contained therein.
Source: ING Group via Thomson Reuters ONE
[HUG#1598717]
Unternehmensinformation / Kurzprofil:
Datum: 30.03.2012 - 11:36 Uhr
Sprache: Deutsch
News-ID 130303
Anzahl Zeichen: 7879
contact information:
Town:
Amsterdam
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 229 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"ING successfully completes liability management offers"
steht unter der journalistisch-redaktionellen Verantwortung von
ING Group (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
