Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers Tenders > Headlines for 2014 > News item |
ING Group calls €1.5 billion of 8% perpetual hybrid capital securities
By Tali Rackner
Norfolk, Va., March 18 - ING Group plans to redeem its €1.5 billion of 8% ING perpetual hybrid capital securities, in line with its goal to optimize its capital structure and lower its funding costs, according to a press release.
The securities will be redeemed on April 18.
In the capital structure of ING, the tier 1 hybrid will be replaced by the €11.5 billion of 3 5/8% CRD-IV eligible tier 2 securities that were issued in February. The transaction will reduce the cost of capital for ING and will contribute to future earnings, the company said.
ING Group is a Dutch global financial institution.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.