ING to redeem USD 552 million Additional Tier 1 instrument
(Thomson Reuters ONE) -
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.
Note for editors
For further information on ING, please visit www.ing.com. Frequent news updates
can be found in the Newsroom or via the (at)ING_news Twitter feed. Photos of ING
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Press enquiries Investor enquiries
Christoph Linke ING Group Investor Relations
+31 20 576 4315 +31 20 576 6396
Christoph.Linke(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. 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.
ING to redeem USD 552 million Additional Tier 1 instrument :
https://www.ing.com/Newsroom/All-news/ING-to-redeem-USD-552-million-Additional-Tier-1-instrument.htm
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: ING Group via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 01.08.2017 - 22:02 Uhr
Sprache: Deutsch
News-ID 554931
Anzahl Zeichen: 6486
contact information:
Town:
Amsterdam
Kategorie:
Business News
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"ING to redeem USD 552 million Additional Tier 1 instrument"
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