Press releases

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18 November 2013 | Press release

ING agrees to sell 11.3% direct stake in SulAmérica to Swiss Re

ING announced today that it has reached an agreement with Swiss Re Group on the sale of an 11.3% direct stake in Sul América S.A., further reducing its stake in the Brazilian insurer.

15 November 2013 | Press release

ING successfully completes exchange offers

On 6 November 2013 ING Bank announced the launch of seven separate exchange offers, offering bondholders an opportunity to exchange seven series of subordinated debt into CRD-IV eligible Tier 2 securities. The offers, with a total nominal value of approximately EUR 4.7 billion at current exchange rates, enable ING Bank to proactively optimise the Bank’s capital structure in anticipation of the upcoming CRD-IV implementation.

6 November 2013 | Press release, Financial

ING records 3Q13 underlying net profit of EUR 891 million

“ING continued to make strong progress on its restructuring programme in the third quarter, advancing further into the end phase of our transformation,” said Ralph Hamers, CEO of ING Group. “At the same time, our businesses recorded another good set of quarterly results while delivering on our strategic priorities.”

6 November 2013 | Press release

ING announces liability management actions

ING Bank announced today a number of liability management actions. ING will offer bondholders an opportunity to exchange seven series of subordinated debt into CRD-IV eligible Tier 2 securities. This enables ING to proactively optimise the Bank’s capital structure in anticipation of the upcoming CRD-IV implementation. In addition ING Bank will call USD 2 billion of hybrid Tier 1 securities which will lower its funding costs. The European Commission has authorized the transactions.

6 November 2013 | Press release

ING to include ING Life Japan in ING Insurance IPO

ING announced today that it will expand the scope of the base case Initial Public Offering (IPO) of ING Insurance to include ING Life Japan. In that context, ING and the Dutch State have reached an agreement with the European Commission (EC) on a revised timeline for the divestment process. Preparations for an IPO of ING Insurance in 2014 are on track.

1 November 2013 | Press release

ING and Dutch State reach agreement on unwinding of Illiquid Assets Back-up Facility

ING announced today that it has reached an agreement with the Dutch State on the unwinding of the Illiquid Assets Back-Up Facility (IABF).

30 October 2013 | Press release

ING to pay EUR 1.125 billion to Dutch State on 6 November 2013

ING announced today that it has notified the Dutch State of its intention to pay EUR 1.125 billion on 6 November 2013. This payment includes a EUR 750 million repayment of core Tier 1 securities and EUR 375 million in premiums and interest and is part of the repayment schedule as agreed with the European Commission (EC) and the Dutch State.

24 October 2013 | Press release

ING announces exercise of underwriters’ option to acquire additional shares in ING U.S.

ING announced today that the underwriters in the offering of shares of ING U.S. Inc., its U.S.-based retirement, investment and insurance subsidiary, have exercised their option to purchase an additional 4.95 million shares of ING U.S. from ING Group at the offering price of USD 29.50 per share. The sale of these additional shares further reduces ING Group’s ownership stake in ING U.S. from approximately 59% to approximately 57%.

23 October 2013 | Press release

ING prices offering of ING U.S. shares at USD 29.50 per share

ING announced today the pricing of 33 million shares of common stock of ING U.S., Inc., its U.S.-based retirement, investment and insurance subsidiary. Based on the final price of USD 29.50 per share, the offering size is approximately USD 974 million (approximately EUR 706 million at current exchange rates). The offering represents a stake of approximately 13%, reducing ING Group’s ownership to approximately 59% following the closing of the transaction. ING Group intends to use the net proceeds of the transaction for the reduction of Group core debt.

21 October 2013 | Press release

ING announces size of planned sale of shares in ING U.S.

ING announced today that it plans to sell approximately 30 million shares of common stock of ING U.S., Inc. in an SEC-registered public offering, representing a stake of 11.5% in its U.S.-based retirement, investment and insurance subsidiary. ING Group intends to use the proceeds of the planned transaction for the reduction of Group core debt.