ING Announces Redemption of Two Series of Senior Notes
ING has announced the redemption of two series of Senior Notes registered with the SEC on their contractual call date of April 1, 2026. The group also expressed its intention to redeem a series of Tier 2 subordinated notes on the reset date of May 26, 2026.
ING will proceed with the full redemption of two series of Senior Notes: the USD 400 million Callable Floating Rate Senior Notes (ISIN US456837AX12) and the USD 1,100 million 1.726% Callable Fixed-to-Floating Rate Senior Notes (ISIN US456837AV55). These redemptions will occur on April 1, 2026, at their contractual call price, which is the principal amount of the securities. Accrued and unpaid interest will be paid on the same day to holders registered as of March 31, 2026. Concurrently, ING announced its intention to redeem the EUR 1,500 million 2.125% Fixed Rate Subordinated Tier 2 Notes (XS2176621170) at the next contractual reset date of May 26, 2026. ING has obtained authorization from the European Central Bank to proceed with this redemption.
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The payment for the Callable Senior Notes will be processed by The Bank of New York Mellon, London Branch. A notification to the holders of the Tier 2 Notes will be distributed through international clearing systems and published on ING's website, between 15 and 30 days before the optional redemption date. ING specifies that any future decision regarding whether or not to exercise the redemption options of its debt securities will be made on an economic basis, taking into account the interests of all stakeholders, as well as market conditions, regulatory approvals, and capital requirements.
Another strong quarter, with continued commercial momentum, in line with our strategy to accelerate growth
Forte dynamique commerciale : croissance des prêts, progression structurelle des commissions, génération de capital solide permettant distributions additionnelles (annonce €1,6 bln dont €1,1 bln de rachats et €500 mln en cash). Résultats resilient avec NII commercial soutenu et fees en forte hausse.
Risks mentioned
Augmentation attendue des exigences réglementaires de fonds propres (CCyB, P2R, buffers sectoriels)
Impact attendu négatif d'environ €0,8 billion post tax lié à la cession prévue de l’activité en Russie
Risque macroéconomique et de marché (taux d’intérêt, change)
Risques opérationnels et réglementaires décrits dans la section 'Important legal information'
Opportunities identified
Poursuite de la croissance des commissions et des clients mobiles (objectif +1 mln mobile primary en 2025)
Repricing des dépôts et réduction des coûts de dépôt (impact 2025 estimé ~€1,1 bln pour zone euro retail)
Déploiement de capital excédentaire dans la croissance profitable et rachats d’actions
M&A sélectif basé sur critères stricts
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