by Calculated Risk on 10/19/2008 09:56:00 PM

From Bloomberg: ING Gets $13.4 Billion Injection From the Netherlands

ING Groep NV, the biggest Dutch financial-services firm, will get 10 billion euros ($13.4 billion) from the Netherlands after warning Oct. 17 of its first quarterly loss ...

ING will scrap this year's final dividend and sell the government non-voting preferred securities that won't dilute existing shareholders and will lift the bank's core Tier 1 capital to about 8 percent ... The securities pay 8.5 percent annual interest, Dutch Finance Minister Wouter Bos told reporters today.

The bailout continues ...