ING files to sell $1 billion debt

ING Group recently filed with the U.S. Securities and Exchange Commission to issue $1 billion in debt securities.The offering was disclosed on December 2 in a prospectus supplement that is a new form filed as a automatic shelf registration (ASR) statement.The underwriters for this offering include: ING Financial Markets; Merrill Lynch & Co.; Morgan Stanley; Banc of America Securities LLC; Citigroup; Goldman Sachs & Co.; and, Lehman Brothers.The debt securities have an interest rate of 5.775%/year and there is no fixed maturity or redemption date.The proceeds of this sale of debt securities will, according to ING, be used for general corporate purposes and towards initiatives to strengthen its capital base.