ING to redeem USD 1,500 million of perpetual securities
ING filed to redeem USD 1,500 million of perpetual capital securities in full on 16 November 2026, with the price at principal amount plus accrued interest for holders of record.
What happened
According to the company, ING filed a Form 6-K on 2026-09-17. The filing said ING would redeem USD 1,500 million of Perpetual Additional Tier 1 Contingent Convertible Capital Securities. Those securities carried a coupon of 5.750%, with a call date of 16 November 2026.
The filing tied the amount, the issue name and the call date together in the same notice. That combination told investors exactly which securities were covered and when the call would occur. The form itself provided the formal record for the action.
Redemption fitted goal to optimise capital structure
According to the company, the redemption was in line with ING’s goal to continuously optimise its capital structure. The Perpetual Capital Securities would be redeemed in full in accordance with their terms.
For the company, the stated point was structure rather than funding for a specific project. Retiring the issue in full under its terms removed that issue from the outstanding stock. For investors, that structure meant the event applied to the entire issue under the same terms. The terms themselves remained the reference for how the retirement would proceed.
Optimisation in this filing referred to steady management of the existing capital mix. The filing described the redemption as consistent with that approach. Readers could therefore place the action within maintenance of the approach, rather than a shift described elsewhere.
Filing gave identifiers and price basis for the issue
The filing listed CUSIP 456837AR4 and ISIN US456837AR44 for the Perpetual Capital Securities. The redemption price would be the principal amount of the Perpetual Capital Securities.
Identifiers of that kind allowed investors to distinguish the exact issue covered by the filing from other securities. A price defined as principal amount left the basis for the payment clear, separate from the final interest described for the redemption date. That separation helped readers keep the principal component apart from the interest component. The filing thus gave a complete reference for identifying the issue and the price basis.
