ING has announced its intention to redeem USD 1,250 million of its 6.500% Perpetual Additional Tier 1 Contingent Convertible Capital Securities on April 16, 2025. This move aligns with the company's strategy to optimize its capital structure.
The redemption will be carried out in full compliance with the terms of the securities, and payment is scheduled for April 16, 2025. The redemption price will match the principal amount of these securities. Interest that has accrued and remains unpaid as of the redemption date will be settled in the customary manner for holders on record by April 15, 2025. The Bank of New York Mellon, London Branch will act as the paying agent for this transaction.
Future decisions regarding calls on debt securities by ING will be made based on economic considerations while considering stakeholder interests. ING also plans to evaluate market conditions, regulatory approval, and capital requirements when making such decisions.