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 @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@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@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
http://hugin.info/130668/R/1909984/681044.pdf
HUG#1909984
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