Ragazzi bisogna trovare l'offer memorandum citato nell'offerta per i dettagli, io ora non ho modo di cercare. Così capiamo se c'è un taglio minimo per il senior (probabile) e eventualmente una uscita in cash per chi non ci arriva. Nel caso si aspetta il termine, si incassa 58 senza regalare 8/10% ai MM, e si vede con calma cosa c'è di buono in giro..
OFFER B
Existing Securities B
Name
Issuer
Type ISIN/Common
Code
Amount
Outstanding Coupon
First
Call
Date
Maturity
Date
Amount
subject to
Exchange
Offer
Exchange
Ratio
Existing
Perpetual
Securities II ING Groep N.V. Tier 1 NL0000113587
/ 016928984 €750,000,000
A floating rate
by reference to
10 year Dutch
State loans plus
0.50%
30
June
2013
Perpetual Any and all 0.58
Existing
Perpetual
Securities
III
ING Groep N.V. Tier 1 NL0000116127
/019315207 €1,000,000,000
A floating rate
by reference to
10 year Dutch
State loans plus
0.10%
30
June
2014
Perpetual Any and all 0.58
New Securities B
Issuer Type Coupon Issue Price Maturity Date Rating
ING Bank N.V. Senior 4.00% per
annum 100% Expected to be 23
December 2016
The New Securities B are expected to be rated A+ by
Standard & Poor’s Credit Market Services Europe
Limited, Aa3 by Moody’s France SAS and A+ by
Fitch Ratings Ltd.
Holders of Existing Securities B accepted by the Offeror for exchange will receive on the
settlement date for Offer B, New Securities B with an aggregate nominal amount (rounded
down to the nearest €1,000) equal to the product of (a) the aggregate nominal amount of the
Existing Securities of the relevant Series validly offered and accepted for exchange, and (b)
the relevant Exchange Ratio (determined as set out in Offer Memorandum B). Such Holders
will also be entitled to receive an amount in cash (in euro) equal to any applicable Accrued
Coupon Payment and Cash Rounding Amount. See "Exchange Offers" in Offer Memorandum
B.
Questo è quello postato da Angy,da qui non sembra ci sia un taglio minimo,ma un arrotondamento con pagamento cash