ING to Redeem Perpetual Securities to Enhance Capital Structure
ING to Redeem Perpetual Capital Securities
ING has officially announced its plan to redeem USD 1,250 million worth of 6.500% Perpetual Additional Tier 1 Contingent Convertible Capital Securities. This significant decision is aligned with ING’s ongoing commitment to optimize its capital structure effectively. This move represents a proactive approach in managing their financial obligations and ensuring broader stability.
Details of the Redeemed Securities
The Perpetual Capital Securities, identifiable by CUSIP 456837AF0 and ISIN US456837AF06, will be fully redeemed according to the established terms. The redeeming action is scheduled for 16 April 2025, coinciding with their call date. This decision underscores ING's strategic planning as they make arrangements for payment on the redemption date, where the principal amount along with any accrued and unpaid interest will be distributed to record holders noted as of 15 April 2025.
Payment and Procedures
The designated paying agent for this redemption transaction will be The Bank of New York Mellon, located in London. Customers and stakeholders can anticipate a smooth transaction process as ING adheres to its operational standards.
Future Decisions on Debt Securities
Looking ahead, ING will evaluate any future calls regarding debt securities on an economic basis. This involves a comprehensive assessment, factoring in the interests of diverse stakeholders and prevailing market conditions. Key considerations include obtaining regulatory approvals and analyzing their capital requirements. By maintaining a vigilant stance against market dynamics, ING aims to secure its position and ensure robust financial health.
ING's Commitment to Sustainability
ING is not only focused on financial growth but is also dedicated to sustainability initiatives. The organization emphasizes the importance of environmental responsibility, proactively integrating sustainability into all operations. Their ongoing assessments by independent research and ratings agencies further reinforce their commitment to these ideals.
ESG Ratings and Sustainability Efforts
Recently, ING received a reconfirmed ESG rating of 'AA' from MSCI, illustrating their persistent efforts towards responsible banking. Their initiatives align with global movements towards low-carbon economies, supporting various sustainable endeavors while balancing traditional financial activities. As part of their commitment, ING continues to provide transparent reports on their progress in sustainability and governance.
Investor Relations and Company Profile
As a leading global financial institution, ING operates through ING Bank, serving clientele in over 40 countries with a dedicated team of more than 60,000 employees. By offering comprehensive banking solutions, ING aims to empower individuals and businesses, adapting to the evolving needs of their customers.
Investor Contact Information
For those interested in further inquiries regarding investments, stakeholders can reach out to ING Group Investor Relations. They maintain an open channel for communication, ensuring that investor concerns are meticulously addressed.
Frequently Asked Questions
What is the significance of the USD 1,250 million redemption?
The redemption reinforces ING's strategy to enhance its capital structure and manage financial stability effectively.
When will the securities be redeemed?
The redemption of the Perpetual Capital Securities is scheduled for 16 April 2025.
Who manages the payment for the redemption?
The Bank of New York Mellon will serve as the paying agent for the redemption process.
How does ING incorporate sustainability into its operations?
ING integrates sustainability at the core of its strategies, receiving positive ESG evaluations from independent agencies.
How can investors get in touch with ING for inquiries?
Investors can connect with ING Group Investor Relations directly for any queries or concerns related to their investments.
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