ING Raises $10.5B To Help Repay Dutch Bailout

Law360, New York (December 23, 2009, 2:49 PM EST) -- ING Groep NV has used a portion of a €7.3 billion ($10.5 billion) rights issue to pay back half of the €10 billion it owes the Dutch government, the company said.

The Dutch financial services giant funded the repayment through the rights issue in Europe and the United States that it completed Monday. ING sold 1,768,412,544 shares, of which about 97 percent came through the exercise of rights and the rest through placements to institutional investors. ING raised about €7.3 billion in proceeds after fees and...
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