ING Group will issue USD 2.25 billion Additional Tier 1 securities
April 09 2015 - 5:25PM
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.
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Press enquiries |
|
Investor enquiries |
Frans Middendorff |
|
ING Group Investor Relations |
+31 20 576 6385 |
|
+31 20 576 6396 |
Frans.Middendorff@ing.com |
|
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
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
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announcement is distributed by NASDAQ OMX Corporate Solutions on
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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
HUG#1909984
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