ING Group : ING announces price and results on cash tender offer for EUR 4.0 billion Government Guaranteed Notes

 ING Group : ING announces price and results on cash tender offer for EUR 4.0
                     billion Government Guaranteed Notes

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, TO ANY U.S. PERSON (AS DEFINED IN REGULATION S UNDER THE UNITED
STATES SECURITIES ACT OF 1933, AS AMENDED) OR IN OR INTO OR TO ANY PERSON
LOCATED OR RESIDENT IN THE UNITED STATES OF AMERICA, ITS TERRITORIES AND
POSSESSIONS, ANY STATE OF THE UNITED STATES OF AMERICA OR THE DISTRICT OF
COLUMBIA OR ANY OTHER JURISDICTION WHERE TO DO SO WOULD CONSTITUTE A VIOLATION
OF THE RELEVANT LAWS OF SUCH JURISDICTION.

On 19 June 2013 ING announced an offer to the holders of the Government
Guaranteed Notes listed in the table below to tender any and all of the
outstanding Notes with a total principal amount outstanding of EUR 4.0
billion. The offer expired at 5:00 p.m., CET, on 28 June 2013.

The aggregate principal amount of the notes validly tendered and accepted for
purchase is approximately EUR 1.28 billion, or 32% of the principal amount
outstanding, leaving a remaining amount outstanding of approximately EUR 2.72
billion. ING Bank will pay a purchase price of EUR 1,022.19 per EUR 1,000
principal amount of notes validly tendered and accepted for purchase.

In addition to the purchase price, ING Bank will also pay any accrued and
unpaid interest on each of the notes purchased pursuant to the offer up to,
but excluding, the settlement date which is expected to be 3 July 2013.

In addition to the cash tender offer in Europe, a cash tender offer has been
conducted in the US with a total principal amount outstanding of USD 2.25
billion the pricing and results of which will be announced separately. The
results of both cash tender offers have no material impact on the results of
ING Bank.


TARGETED SECURITIES

ISIN          Title of        Maturity  Principal    Benchmark      Purchase Purchase Aggregate
              Security         Date    Amount       Security        Spread      Principal
                                        Outstanding                                 Amount
                                                                             Price    Accepted for
                                                                                      Purchase
XS0415072098  €4,000,000,000  3 March   €4.0         BKO 0.25% due  0 b.p.   €        €
              3.375 per       2014      billion      14 March               1,022.19 1,277,069,000
              cent. Fixed                           2014 (ISIN:
              Rate Notes                             DE0001137370)
              2009 due 3
              March 2014
              issued by ING
              Bank and
              guaranteed by
              the State of
              The
              Netherlands

The offer is being made subject to the terms and conditions set out in the
Tender Offer Memorandum dated 19 June 2013. ING Bank N.V. and J.P. Morgan
Securities plc are acting as Joint Dealer Managers and Lucid Issuer Services
Limited is acting as Tender Agent. 

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 of Dutch origin, offering banking,
investments, life insurance and retirement services to meet the needs of a
broad customer base. Going forward, we will concentrate on our position as an
international retail, direct and commercial bank, while creating an optimal
base for an independent future for our insurance and investment management
operations.
IMPORTANT LEGAL INFORMATION
Certain of the statements contained herein 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.

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