ING Group will issue USD 2.25 billion Additional Tier 1 securities
(Thomson Reuters ONE) -
ING Group will issue USD 2.25 billion securities that qualify as Additional Tier
1 capital under CRD IV / CRR. This successful issuance will further strengthen
ING's capital base.
Following significant demand from investors in Asia, Europe and the U.S, ING
will issue USD 2.25 billion of USD denominated Perpetual Additional Tier 1
Contingent Convertible Capital Securities. This comprises two separate tranches:
a USD 1.0 billion Perpetual Non-Callable 5 Year with coupon 6.00%; and a USD
1.25 billion Perpetual Non-Callable 10 Year with coupon 6.50%.
The securities will be subject to full conversion into ordinary shares of ING
Group in the event ING Group's phased-in CET 1 ratio would fall below 7.0%.
The settlement of the securities is expected to occur on 16 April 2015 which
will complete the issuance.
This press release shall not constitute an offer to sell or the solicitation of
an offer to buy, nor shall there be any sale of these securities in any state in
which such offer, solicitation or sale would be unlawful prior to registration
or qualification under the securities laws of any such state. The registration
statement relating to the offering may be obtained by visiting the SEC website
at www.sec.gov.
NOTE FOR EDITORS
For further information on ING, please visit ing.com. Frequent news updates can
be found in the Newsroom or via the (at)ING_news twitter feed. Photos of ING
operations, buildings and its executives are available for download at
Flickr.com.Footage (B-roll) of ING is available via videobankonline.com, or can
be requested by emailing info(at)videobankonline.com. ING presentations are
available at SlideShare.
For convenient access to the latest financial information and press releases
both online and offline, download the ING Group Investor Relations and Media app
for iOs on the Apple Store or for Android on Google Play.
Press enquiries Investor enquiries
Frans Middendorff ING Group Investor Relations
+31 20 576 6385 +31 20 576 6396
Frans.Middendorff(at)ing.com Investor.Relations(at)ing.com
ING PROFILE
ING is a global financial institution with a strong European base, offering
banking services through its operating company ING Bank and holding a
significant stake in the listed insurer NN Group NV. The purpose of ING Bank is
empowering people to stay a step ahead in life and in business. ING Bank's
53,000 employees offer retail and commercial banking services to customers in
over 40 countries.
ING Group shares are listed (in the form of depositary receipts) on the
exchanges of Amsterdam (INGA NA, ING.AS), Brussels and on the New York Stock
Exchange (ADRs: ING US, ING.N).
Sustainability forms an integral part of ING's corporate strategy, which is
evidenced by ING Group shares being included in the FTSE4Good index and in the
Dow Jones Sustainability Index (Europe and World) where ING is the industry
leader in the diversified financials group.
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.
The securities referred to in this press release are not intended to be sold
and should not be sold to retail clients in the European Economic Area, as
defined in the rules set out in the Temporary Marketing Restriction
(Contingent Convertible Securities) Instrument 2014 (as amended or replaced
from time to time) other than in circumstances that do not and will not give
rise to a contravention of those rules by any person.
Notice to U.S. persons: ING has filed a registration statement (including a
prospectus) on Form F-3 (File No. 333-202880) and will file a preliminary
prospectus supplement with the SEC (the "Preliminary Prospectus Supplement")
for the offering of securities to which this press release relates. Before
investing in such securities, investors should read the prospectus in that
registration statement, the Preliminary Prospectus Supplement relating to the
offering of the securities (when filed) and other documents that ING may file
with the SEC. You may get these documents for free by searching the SEC online
database (EDGAR®) at www.sec.gov. Alternatively, you may obtain a copy of the
prospectus and Preliminary Prospectus Supplement (when available) by calling
Citigroup Global Markets Inc. toll-free at 1-800-831-9146, ING Financial
Markets LLC toll-free at 1-877-446-4930, J.P. Morgan Securities LLC collect at
1-212-834-4533 and UBS Securities LLC toll-free at 1-888-827-7275.
Notice to persons in The Netherlands: The securities referred to in this press
release may only be offered in The Netherlands to qualified investors as defined
in the Dutch Financial Markets Supervision Act (Wet op het financieel toezicht).
Other Jurisdictions Outside the United States: No action may be taken in any
jurisdiction other than the United States that would permit a public offering of
the securities referred to in this press release or the possession, circulation
or distribution of this document or the Preliminary Prospectus Supplement in any
jurisdiction where action for that purpose is required. Accordingly, such
securities may not be offered or sold, directly or indirectly, and neither this
document, the Preliminary Prospectus Supplement nor any other offering material
or advertisements in connection with such securities may be distributed or
published in or from any country or jurisdiction, except under circumstances
that will result in compliance with any applicable rules and regulations of any
such country or jurisdiction.
PDF version of press release:
http://hugin.info/130668/R/1909984/681044.pdf
This announcement is distributed by GlobeNewswire on behalf of
GlobeNewswire 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 GlobeNewswire
[HUG#1909984]
Unternehmensinformation / Kurzprofil:
Datum: 09.04.2015 - 23:25 Uhr
Sprache: Deutsch
News-ID 384784
Anzahl Zeichen: 9435
contact information:
Town:
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Kategorie:
Business News
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