ING to redeem USD 500 million 6.2% Perpetual Debt Securities
September 13 2017 - 03:44PM
ING Group announced today it will redeem USD 500 million of 6.2%
Perpetual Debt Securities on the call date being 15 October 2017,
in line with ING's goal to continuously optimize its capital
structure.
The securities (CUSIP 456837400; ISP) will be redeemed in full
in accordance with their terms, with payment to be made on 16
October 2017, the first business day after the call date. The
redemption price will be USD 25.00 per USD 25.00 principal amount
security. Accrued and unpaid interest due on the redemption date
will be paid in the usual manner, to holders of record as of 1
October 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
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Press enquiries |
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Investor enquiries |
Christoph Linke |
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ING Group Investor
Relations |
+31 20 576 4315 |
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+31 20 576 6396 |
Christoph.Linke@ing.com |
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Investor.Relations@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 more than 51,000
employees offer retail and wholesale banking services to customers
in over 40 countries.
ING Group shares are listed on the exchanges of Amsterdam (INGA
NA, INGA.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 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. Projects may be subject to regulatory
approvals. ING Group's annual accounts are prepared in accordance
with International Financial Reporting Standards as adopted by the
European Union ('IFRS-EU'). In preparing the financial information
in this document, except as described otherwise, the same
accounting principles are applied as in the 2016 ING Group
consolidated annual accounts. All figures in this document are
unaudited. Small differences are possible in the tables due to
rounding. 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 a number of factors, including, 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) potential consequences of European Union countries leaving the
European Union or a break-up of the euro, (4) changes in the
availability of, and costs associated with, sources of liquidity
such as interbank funding, as well as conditions in the credit and
capital markets generally, including changes in borrower and
counterparty creditworthiness, (5) changes affecting interest rate
levels, (6) changes affecting currency exchange rates, (7) changes
in investor and customer behaviour, (8) changes in general
competitive factors, (9) changes in laws and regulations and the
interpretation and application thereof, (10) geopolitical risks and
policies and actions of governmental and regulatory authorities,
(11) changes in standards and interpretations under International
Financial Reporting Standards (IFRS) and the application thereof,
(12) conclusions with regard to purchase accounting assumptions and
methodologies, and other changes in accounting assumptions and
methodologies including changes in valuation of issued securities
and credit market exposure, (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) the outcome of current and future legal and
regulatory proceedings, (16) ING's ability to achieve its strategy,
including projected operational synergies and cost-saving
programmes and (17) 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. Many
of those factors are beyond ING's control. 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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