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ING to redeem US$ 1,045 million Perpetual Hybrid Capital Securities
ING Group announced today it will redeem US$ 1,045 million of 6.375% Perpetual Hybrid Capital Securities on the call date being 15 June 2019, in line with ING’s goal to continuously optimize its capital structure.
The securities (CUSIP 456837608; ISF) will be redeemed in full in accordance with their terms, with payment to be made on 17 June 2019, which is the first business day after the call date. The redemption price will be US$ 25.00 per US$ 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 June 2019. The paying agent for the securities is The Bank of New York Mellon, 240 Greenwich 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.
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