ING has announced its decision to redeem two series of outstanding SEC registered securities. The securities in question are the USD 500 million Callable Floating Rate Senior Notes and the USD 1,250 million 3.869% Callable Fixed-to-Floating Rate Senior Notes, collectively referred to as the "Callable Senior Notes." These notes will be redeemed on their call date, March 28, 2025.
The redemption will be carried out in full compliance with the terms of the notes. Payment is scheduled for March 28, 2025, and will cover the principal amount of the Callable Senior Notes. Additionally, accrued and unpaid interest due on that date will be paid to holders of record as of March 27, 2025. The Bank of New York Mellon, London Branch will act as the paying agent for these securities.
Future decisions by ING regarding calls on debt securities will be made based on economic considerations while keeping stakeholders' interests in mind. ING also noted that factors such as prevailing market conditions, regulatory approval, and capital requirements would influence these decisions.