Press Release: State aid: European Commission rejects ING’s request to repay hybrid capital to private investors

The European Commission has rejected ING's request for an early repayment of around €1.2 billion in hybrid capital to private investors as it has yet to fully reimburse the Dutch State for the support it received, a condition set in the Commission State aid decision of 2009. As a consequence, the call by ING on the hybrid tier 1 instrument cannot go ahead on 31 December 2010.

• Primary Source

ESO: Background Information: Commission approves ING restructuring plan and illiquid asset back-up facility http://www.europeansources.info/record/press-release-state-aid-commission-approves-ing-restructuring-plan-and-illiquid-asset-back-up-facility/

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