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    Home /  About /  News And Events /  Client Highlights
    Client Highlights

    S&C Advises ING Groep in $1.5 billion SEC-registered Offering

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    October 8, 2019
    ING Groep, the Dutch multinational banking and financial services corporation headquartered in Amsterdam, completed a $1.5 billion SEC-registered offering consisting of 5.750% perpetual additional tier 1 capital securities. Beginning November 2026, the interest rate will reset every five years at a rate equal to the applicable U.S. Treasury Rate plus 4.342%. ING, J.P. Morgan, BNP Paribas, Citigroup, Goldman Sachs and HSBC acted as joint lead managers and joint bookrunners.

    The offering was led by S&C partners William Torchiana in Paris and Evan Simpson in London.

    The contingent convertible securities were structured to qualify as additional tier 1 capital for European and Dutch bank regulatory purposes and are listed on the Global Exchange Market of the Irish Stock Exchange. 
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    Evan S. Simpson Headshot Photo
    Evan S. Simpson
    London
    +44-20-7959-8900
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    William D. Torchiana Headshot Photo
    William D. Torchiana
    Paris
    +33-1-73-04-58-90
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