Key Developments: ING Groep NV (ING.AS)

ING.AS on Amsterdam Stock Exchange

10.01EUR
25 Jul 2014
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Latest Key Developments (Source: Significant Developments)

Additional proceeds generated to ING within NN Group IPO
Thursday, 10 Jul 2014 04:00am EDT 

ING Groep NV:Over-allotment option of NN Group N.V. IPO fully exercised.11.6 mln additional shares sold (15 pct of base offer shares) at offer price of 20 euros per share.231 mln euros gross proceeds generated to ING.ING ownership in NN Group reduced to 68.1 pct from 71.4 pct.Total gross proceeds from NN Group IPO amount to 2.2 bln euros.  Full Article

ING Groep NV announces settlement of NN Group NV IPO
Monday, 7 Jul 2014 03:51am EDT 

NN Group NV:Says the Initial Public Offering of the company has been settled.Says as a result of the settlement, ING Groep NV (ING) has received 2.0 billion euros in gross proceeds from the sale of 77 million existing ordinary shares in NN Groep NV and the exchange into NN Group NV ordinary shares of 450 million euros in mandatorily exchangeable notes.Says that consequently, ING's ownership of NN Groep NV has been reduced to 71.4 per cent.Says that NN Groep NV shares were listed and started trading on Euronext Amsterdam (on an if-and-when-delivered basis) on July 2.Says that the shares are traded unconditionally under the listing name "NN Group" and the symbol "NN".  Full Article

Ing Groep prices NN Group shares in IPO
Tuesday, 1 Jul 2014 05:49pm EDT 

Ing Groep NV:To sell 77 mln ordinary shares in IPO of NN Group at offer price of 20 euros per share, resulting in about 1.5 bln euros in gross proceeds for ING.Gross proceeds to ING at settlement of IPO amount to about 2 bln euros including exchange into NN Group shares of 450 mln euros of mandatorily subordinated notes and excluding exercise of over-allotment option.ING intends to use net proceeds of offering to reduce its double leverage.NN Group shares expected to be listed and start trading on Euronext Amsterdam on July 2 under listing name "NN Group" and symbol "NN".Settlement date and start of unconditional trading expected to take place on July 7.  Full Article

Ing Groep sells remaining 10 pct stake in SulAmerica
Friday, 27 Jun 2014 04:03pm EDT 

Ing Groep NV:Remaining 10 pct stake in SulAmerica SA sold through block trade on BM&F BOVESPA stock exchange.Transaction completes divestment of company's stake in SulAmerica.Trade closed at 15.31 Brazilian reias per unit.Proceeds of about 170 mln euros in cash generated by sale.Proceeds to be used for reduction of company's core debt.Transaction expected to be settled on July 2.  Full Article

Ing Groep NV announces indicative offer price range and offer size for IPO of NN Group
Monday, 16 Jun 2014 12:36pm EDT 

Ing Groep NV:Announces indicative offer price range and offer size for IPO of NN Group.Offer price range set at 18.50 - 22.00 euros per NN Group share.ING to offer 70 million existing ordinary shares of NN Group in IPO (excluding over-allotment option of up to 15 pct of offered shares).NN Group shares expected to be listed and start trading on Euronext Amsterdam on July 2.  Full Article

ING Groep confirms intention to launch NN Group IPO on Euronext Amsterdam
Thursday, 5 Jun 2014 01:00am EDT 

ING Groep NV:Confirms intention to proceed with Initial Public Offering (IPO) and listing on Euronext Amsterdam of NN Group NV.IPO will comprise existing ordinary shares in NN Group, currently wholly owned by ING.  Full Article

Ing Groep NV completes 1.125 billion euro pre-IPO investment into NN Group NV
Friday, 16 May 2014 03:36am EDT 

Ing Groep NV (ING):CompleteS the issuance of 1.125 billion euro in subordinated notes that will, in line with the completion of the intended IPO of NN Group, be exchanged into NN Group shares.Says the transaction represents an important investment into NN Group NV ahead of the intended IPO of ING's European and Japanese insurance and investment management activities.Announces that ING is preparing NN Group NV for a base case IPO.Says preparations are on track for a transaction in 2014, depending on market circumstances, and any further announcements will be made as and when appropriate.  Full Article

ING Groep secures 1.275 billion euros investment in NN Group ahead of IPO
Wednesday, 30 Apr 2014 01:31am EDT 

ING Groep NV:Says it has secured investments into NN Group totaling 1.275 billion euros ahead of NN Group's intended Initial Public Offering (IPO).Says it is to issue 1.125 billion euros in subordinated notes to RRJ Capital, Temasek and SeaTown.Notes are mandatorily exchangeable into NN Group shares in three tranches through 2016.ING to also sell shares in NN Group to each investor at intended IPO totaling 150 million euros.ING is preparing NN Group, which comprises its European and Japanese insurance and investment management operations, for base case IPO in 2014.ING Group will receive 750 million euros from RRJ Capital, 425 million euros from Temasek and 100 million euros from SeaTown for allocation of NN Group shares from ING Group at IPO of NN Group and subordinated ING Group notes, mandatorily exchangeable into NN Group shares.  Full Article

ING Groep completes sale of Taiwanese asset management business
Friday, 18 Apr 2014 12:29am EDT 

ING Groep NV:Completes sale of ING Investment Management Taiwan, its Taiwanese asset management business, to Japan-based Nomura Asset Management in partnership with group of investors.  Full Article

ING wins final court ruling against EC over terms of its 10 bln euros bailout-Reuters
Wednesday, 2 Apr 2014 08:00pm EDT 

ING Groep NV:ING wins final court ruling against European Commission over repayment terms of its 10 billion euros ($13.77 billion) bailout, as Europe's highest court upheld earlier verdict - Reuters.Commission argued that cheaper repayment terms ING received after bailout at height of credit crunch in 2008 constituted further 2 billion euros of state aid.European Court of Justice, Europe's highest court, confirmed earlier verdict, ruling that this additional aid was part of bailout and did not qualify as competition distorting state aid.Europe's second-highest court, Luxembourg-based General Court, said in 2012 that European Commission, as state aid regulator, failed to show that extra aid granted to ING gave it advantage over rivals.  Full Article

Fitch Affirms ING Bank at 'A+'; ING Group at 'A'; Outlooks Negative

(The following statement was released by the rating agency) PARIS/LONDON, July 24 (Fitch) Fitch Ratings has affirmed ING Bank N.V.'s (ING Bank) Long-term Issuer Default Rating (IDR) and Support Rating Floor (SRF) at 'A+' and ING Group's Long-term IDR and SRF at 'A'. The Outlooks on both Long-term IDRs are Negative. At the same time, the agency has affirmed ING Bank's Viability Rating (VR) at 'a'. A full list of rating actions is available at the end of this rating action commentary. The ra

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