ING Bank of Canada Announces Redemption of Floating Rate Subordinated Notes
due December 5, 2016
TORONTO, Jan. 7, 2013
TORONTO, Jan. 7, 2013 /PRNewswire/ - ING Bank of Canada, a wholly owned
subsidiary of Scotiabank (BNS: TSX, NYSE), today announced that it intends to
redeem all outstanding Floating Rate Subordinated Notes due December 5, 2016
(the "Notes") for 100% of their principal amount plus accrued interest to the
redemption date. The redemption will occur on March 5, 2013.
About ING DIRECT
ING Bank of Canada, operating under the trade name of ING Direct, is a wholly
owned subsidiary of Scotiabank. INGDIRECT is Canada's leading direct bank
with over 1.8 million Clients and close to $40 billion in total assets.
INGDIRECT is the bright way forward in everyday banking for Canadians,
offering value added, simple products such as high interest savings accounts,
including TFSAs, GICs and RSPs with no fees or service charges, low rates on
mortgages and a no-fee, daily chequing account that actually pays interest.
Low cost, index based mutual funds are sold through INGDIRECT Funds Limited.
INGDIRECT has been operating in Canada since 1997, and paid more than $5
billion in interest to Clients. INGDIRECT is open for banking 24 hours a day,
7 days a week, at ingdirect.ca, on mobile devices at m.ingdirect.ca or by
calling 1-800INGDIRECT (1-800-464-3743).
SOURCE ING DIRECT
VP Head of Treasury
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