ING to repay Dutch State EUR 5 bn Core Tier 1 securities on 21 Dec.
(Thomson Reuters ONE) - ING announced today that it has notified the Dutch State that it willexercise its option to early repurchase EUR 5 billion of the CoreTier 1 securities.As announced on 26 October 2009, ING and the Dutch State agreed toalter the repayment terms of the Core Tier 1 securities issued inNovember 2008, in order to facilitate early repayment. The repayment,for which the Dutch Central Bank has given its consent, is expectedto take place on 21 December 2009.The total payment is expected to amount to EUR 5,606 million. Thisconsists of a repayment of the EUR 5 billion principal amount,representing half of the Core Tier 1 securities, plus accrued couponfrom 12 May 2009 to 20 December 2009 of EUR 259 million and arepayment premium of EUR 347 million.ING intends to fund the repayment with the proceeds of the EUR 7.5billion rights issue that ING expects to complete on 21 December2009.Jan Hommen, CEO of ING stated: "After repaying half of the funds wereceived last year from the Dutch State, we will work now towardsrepaying the second half of the Core Tier 1 securities. We anticipatedoing so using retained earnings and potential proceeds fromdivestments. The Dutch State has indicated it is open to discussingmodification of the repayment conditions for the second half."Press enquiries Investor enquiriesFrans Middendorff Raymond Vermeulen ING Group Investor Relations+31 20 541 6516 +31 20 541 5682 +31 20 541 5460Frans.Middendorff(at)ing.com Raymond.Vermeulen(at)ing.com Investor.relations(at)ing.comING PROFILEING is a global financial institution of Dutch origin offeringbanking, investments, life insurance and retirement services. As of30 September 2009, ING served more than 85 million private, corporateand institutional clients in more than 40 countries. With a diverseworkforce of about 110,000 people, ING is dedicated to setting thestandard in helping our clients manage their financial future.IMPORTANT LEGAL INFORMATIONCertain of the statements contained herein are statements of futureexpectations and other forward-looking statements. These expectationsare based on management's current views and assumptions and involveknown and unknown risks and uncertainties. Actual results,performance or events may differ materially from those in suchstatements due to, among other things, (i) general economicconditions, in particular economic conditions in ING's core markets,(ii) performance of financial markets, including developing markets,(iii) the implementation of ING's restructuring plan to separatebanking and insurance operations, (iv) changes in the availabilityof, and costs associated with, sources of liquidity, such asinterbank funding, as well as conditions in the credit marketsgenerally, including changes in borrower and counterpartycreditworthiness, (v) the frequency and severity of insured lossevents, (vi) mortality and morbidity levels and trends, (vii)persistency levels, (viii) interest rate levels, (ix) currencyexchange rates, (x) general competitive factors, (xi) changes in lawsand regulations, (xii) changes in the policies of governments and/orregulatory authorities, (xiii) conclusions with regard to purchaseaccounting assumptions and methodologies, (xiv) changes in ownershipthat could affect the future availability to us of net operatingloss, net capital loss and built-in loss carryforwards, and (xv)ING's ability to achieve projected operational synergies. INGassumes no obligation to update any forward-looking informationcontained in this document.General, no offerThis document does not constitute an offer to sell, or thesolicitation of an offer to buy or subscribe for, any securities, andcannot be relied on for any investment contract or decision. Inconnection with the offering of the securities referred to in thisdocument, a prospectus within the meaning of Art. 13 of the ECDirective 2003/71/EC of the European Parliament and Council datedNovember 4, 2003 (the "Prospectus Directive") has been published bythe Company (the "Prospectus"). All investment is subject to risk.The value of the securities offered may go down as well as up. Pastperformance is no guarantee of future returns. Any investmentdecision regarding any subscription rights or shares should only bemade on the basis of the Prospectus, and investors are advised toconsult with their bank, broker or investment advisor before takingany such investment decision. The approved Prospectus has beennotified by the Netherlands Authority for the Financial Markets(Stichting Autoriteit Financiële Markten) to the competentauthorities in other jurisdictions in accordance with Article 18 ofthe Prospectus Directive. Copies of the prospectus may be obtained atno cost through the website of Euronext Amsterdam by NYSE Euronext(Dutch residents only) and the website of the Company atwww.ing.com/rightsissue.European Economic AreaThe Company will not authorize any offer to the public of shares orsubscription rights in any Member State of the European Economic Areaother than the Netherlands and any other jurisdiction into which theprospectus for the offering of shares or subscription rights has beenpassported. With respect to each Member State of the EuropeanEconomic Area other than the Netherlands (and any other jurisdictioninto which the prospectus for the offering of shares or subscriptionrights has been passported) and which has implemented the ProspectusDirective (each, a "Relevant Member State"), no action has beenundertaken to date to make an offer to the public of shares orsubscription rights requiring a publication of a prospectus in anyRelevant Member State.Notice to U.S. PersonsThis document shall not constitute an offer to sell or thesolicitation of an offer to buy any securities in any jurisdiction.ING will arrange to send you the prospectus filed with the Securitiesand Exchange Commission if you request it by writing to GeorgesonInc., 199 Water Street - 26th Floor, New York, NY 10038, Attn. INGGroup, or by calling toll-free +1-888-877-5426.http://hugin.info/135859/R/1360529/332050.pdfThis announcement was originally distributed by Hugin. The issuer is solely responsible for the content of this announcement.
Datum: 11.12.2009 - 06:59 Uhr
Sprache: Deutsch
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