ING issues USD 2 billion guaranteed bond

13 March 2009 ... min read

ING issues USD 2 billion guaranteed bond

ING issues USD 2 billion guaranteed bond

ING Bank announced today that it has placed a 5 year USD denominated government guaranteed senior unsecured bond issue. The issue of USD 2 billion was done under the Credit Guarantee Scheme of the State of the Netherlands and is part of ING Bank’s regular medium-term funding operations.

The issue follows the announcement of 26 January 2009 that under the terms of the agreement with the Dutch State on an Illiquid Assets Back-up Facility, ING will pro-actively issue EUR 10 billion in government guaranteed bonds. Since then, ING announced on 30 January and 20 February the issuance of government guaranteed bonds for a total amount equal to EUR 8.7 billion. The current issue was priced at a fixed coupon of 3.90%, 145 basis points over USD mid-swaps.

ING placed the issue among a variety of financial institutions, among which central banks, agencies and fund managers in Europe, US, the Middle-east and Asia. The bonds carry an AAA rating by Standard & Poor’s, Fitch and Moody’s. Joint Lead Managers for the issue were Bank of America / Merrill Lynch, ING Bank, JPMorgan Chase & Co and Morgan Stanley.

Press enquiries

Media Relations
ING Group
+31 20 576 5000

media.relations@ing.com

ING Profile

ING is a global financial institution of Dutch origin offering banking, investments, life insurance and retirement services to over 85 million private, corporate and institutional clients over 40 countries. With a diverse workforce of about 125,000 people, ING is dedicated to setting the standard in helping our clients manage their financial future.

Important legal information

Certain of the statements contained herein are statements of future expectations and other forward-looking statements. These expectations are based on management's current views and assumptions and involve known and unknown risks and uncertainties. Actual results, performance or events may differ materially from those in such statements due to, among other things, (i) general economic conditions, in particular economic conditions in ING's core markets, (ii) performance of financial markets, including emerging markets, (iii) the frequency and severity of insured loss events, (iv) mortality and morbidity levels and trends, (v) persistency levels, (vi) interest rate levels, (vii) currency exchange rates (viii) general competitive factors, (ix) changes in laws and regulations, (x) changes in the policies of governments and/or regulatory authorities, (XI) conclusions with regard to purchase accounting assumptions and methodologies, (XII) ING's ability to achieve projected operational synergies. ING assumes no obligation to update any forward-looking information contained in this document.

Nothing in this release shall constitute an offer to sell, or the solicitation of an offer to buy or subscribe for, any securities of ING Groep in any jurisdiction. The securities referred to herein have not been registered under the securities laws of any jurisdiction and will not be offered or sold absent such registration or an applicable exemption therefrom.

Back to top