ING Group : ING announces price and results on cash tender offer for USD 2.25 billion Government Guaranteed Notes

ING Group : ING announces price and results on cash tender offer for USD 2.25
                     billion Government Guaranteed Notes

NOT FOR RELEASE, PUBLICATION OR DISTRIBUTION, IN WHOLE OR IN PART, DIRECTLY OR
INDIRECTLY, TO ANY PERSON LOCATED OR RESIDENT IN ANY 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 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 USD 2.25
billion. The offer expired on 28 June 2013 at 5:00 p.m., New York City time.

The aggregate principal amount of the notes validly tendered and accepted for
purchase is approximately USD 990 million or 44%, leaving a remaining amount
outstanding of approximately USD 1.26 billion. ING Bank will pay a purchase
price of USD 1,026.66 per USD 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 on 3 July 2013.

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


TARGETED SECURITIES

ISIN          CUSIP         Title of Security    Principal   Benchmark  Maturity Purchase Purchase Aggregate
              Number                             Amount       Security   Date     Spread  Price  Principal
                                                 Outstanding                                        Amount
                                                                                                    Accepted
                                                                                                    for
                                                                                                    Purchase
US45324QAC06  45324QAC0     U.S.$2,250,000,000   US$ 2.25     0.25%      19 March 0 b.p.   US$      US$
(Rule 144A)   (Rule 144A)   3.90% Fixed Rate     bn.          U.S.       2014              1,026.66 989,848,000
/             /             Notes due March                   Treasury
USN31288AC28  N31288AC2     19, 2014 issued by                due March
(Regulation  (Regulation  ING Bank N.V. and                 31, 2014
S)            S)            guaranteed by the
                            State of The
                            Netherlands

The offer was made subject to the terms and conditions set out in the Offer to
Purchase dated 19 June 2013. ING Financial Markets LLC and J.P. Morgan
Securities LLC are acting as Joint Dealer Managers and D.F. King &Co., Inc. is
acting as Tender and Information 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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Source: ING Group via Thomson Reuters ONE
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