ING Groep ADR Rep 1 Ord Shs ING

Retiring Perpetuals

[prested]

They have soo much cash they are buying back shares, reducing debt and strngthening resreves. At some point they will have to increase dividends. Get on board now and you make a yield of 6.9%. If they increase divs, share price will reflect it. Win win. GLTAL

Thursday, February 20, 2025, 2:00 AM ET

 

ING to redeem Perpetual Capital Securities

ING to redeem Perpetual Capital Securities

ING announced today it will redeem USD 1,250 million of 6.500% Perpetual Additional Tier 1 Contingent Convertible Capital Securities (the "Perpetual Capital Securities") on the call date of 16 April 2025, in line with ING's goal to continuously optimise its capital structure.

The Perpetual Capital Securities (CUSIP 456837AF0/ISIN US456837AF06) will be redeemed in full in accordance with their terms, with payment to be made on 16 April 2025. The redemption price will be the principal amount of the Perpetual Capital Securities. Accrued and unpaid interest due on the redemption date will be paid in the usual manner to holders of record as of 15 April 2025. The paying agent for the Perpetual Capital Securities is The Bank of New York Mellon, London Branch 160 Queen Victoria Street London EC4V 4LA United Kingdom.

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.