By Andrea Heisinger
Omaha, Sept. 27 - ING Groep NV priced $1.5 billion of 7.375% perpetual hybrid capital securities Thursday at par of $25, a market source said.
The securities (A1/A) are callable beginning Oct. 15, 2012 at par.
Bookrunners were Citigroup Global Markets Inc. and Wachovia Capital Securities LLC.
Proceeds will be used for general corporate purposes and to strengthen the company's capital base.
The financial institution is based in Amsterdam.
| Issuer: | ING Groep NV
|
| Issue: | Hybrid capital securities
|
| Amount: | $1.5 billion
|
| Maturity: | Perpetual
|
| Bookrunners: | Citigroup Global Markets Inc., Wachovia Capital Securities LLC
|
| Coupon: | 7.375%
|
| Price: | Par of $25
|
| Call: | In whole on or after Oct. 15, 2012
|
| Trade date: | Sept. 27
|
| Settlement date: | Oct. 4
|
| Ratings: | Moody's: A1
|
| Standard & Poor's: A
|
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