ING Group: ING Group completes EUR 1.125 billion pre-IPO investment into NN Group

 ING Group: ING Group completes EUR 1.125 billion pre-IPO investment into NN


ING has completed the issuance of EUR 1.125 billion in subordinated notes that
will, in line with the completion of the intended IPO of NN Group, be
exchanged into NN Group shares. The transaction represents an important
investment into NN Group ahead of the intended IPO of ING's European and
Japanese insurance and investment management activities.

As announced on 30 April 2014, ING has secured investments totalling EUR 1.275
billion into NN Group ahead of its intended IPO by agreeing to sell EUR 150
million in NN Group shares at the IPO to RRJ Capital, Temasek, and SeaTown
Holdings International, three Asia-based investors, and to issue to these
investors EUR 1.125 billion subordinated notes that will over time be
mandatorily exchanged into NN Group shares.

As previously announced, ING is preparing NN Group for a base case IPO.
Preparations are on track for a transaction in 2014, depending on market
circumstances, and any further announcements will be made as and when

Photos of ING operations, buildings and its executives are available for
download at Footage (B-roll) of ING are
available via, or can be requested by emailing For further information on NN Group, please visit

Press enquiries ING Group                 Investor enquiries ING Group
Victorina de Boer                         ING Group Investor Relations
+31 20 576 6373                           +31 20 576 6396       
ING is a global financial institution of Dutch origin offering services
through its operating companies ING Bank and NN Group.
The purpose of ING Bank is empowering people to stay a step ahead in life and
in business. ING Bank's more than 63,000 employees offer retail and commercial
banking services to customers on in over 40 countries. ING's subsidiary NN
Group is a leading insurance and investment company active in 18 countries,
predominantly in Europe and Japan, with more than 12,000 employees. NN Group
is preparing to become an independent, stand-alone company, separate from
ING Group shares are listed (in the form of depositary receipts) on the
exchanges of Amsterdam (INGA NA/ING.AS), Brussels and on the New York Stock
Exchange (ADRs: ING US/ING.N). Sustainability forms an integral part of ING's
corporate strategy, which is evidenced by ING shares being included in the Dow
Jones Sustainability Index (Europe and World), the FTS4Good index and the
Euronext Vigeo Europe 120 index.
Certain of the statements contained in this document 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 purchase, any securities in the United States or any other
jurisdiction. The securities of NN Group have not been and will not be
registered under the U.S. Securities Act of 1933, as amended (the "Securities
Act"), and may not be offered or sold within the United States absent
registration or an applicable exemption from the registration requirements of
the Securities Act


Pdf version of press release


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The issuer of this announcement warrants that they are solely responsible for
the content, accuracy and originality of the information contained therein.
Source: ING Group via Globenewswire
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