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ING Groep offers contingent convertible capital securities
By Devika Patel
Knoxville, Tenn., Sept. 3 – ING Groep NV intends to price dollar-denominated perpetual additional tier 1 contingent convertible capital securities, according to a 424B5 filing with the Securities and Exchange Commission.
The notes are callable and the interest rate will be reset on the Nov. 16, 2026 first reset date or any reset date following that date. Each reset date occurs five years after the prior reset date.
ING Financial Markets LLC, J.P. Morgan Securities LLC, BNP Paribas Securities Corp., Citigroup Global Markets Inc., Goldman Sachs & Co. LLC and HSBC Securities (USA) Inc. are the bookrunners.
Proceeds will be used for general corporate purposes.
The global financial institution is based in Amsterdam.
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