Voya 2013 Annual Report Download - page 342

ING U.S., Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
16. Financing Agreements
Short-term Debt
The following table summarizes the Company’s short-term debt including the weighted average interest rate on
short-term borrowings outstanding as of December 31, 2013 and 2012:
Weighted Average Rate
2013 2012 2013 2012
Commercial paper ............................. $— $ 192.0 — % 1.22%
Current portion of long-term debt(1)(2) .............. — 872.6 — % 2.42%
Total ....................................... $— $1,064.6
(1) See the “Credit Facilities” section of this note for information on the Term Loan Agreement of the
Senior Unsecured Credit Facility.
(2) See Note 18. Related Party Transactions-Affiliated Financing Agreements to these Consolidated
Financial Statements.
Commercial Paper
The Company had a commercial paper program with an authorized capacity of $3.0 billion, which was
guaranteed by ING V. The Company paid ING V 10 basis points (“bps”) on the outstanding balance of the
commercial paper program as a fee for this guarantee. The Company’s commercial paper borrowings were
generally used to fund the working capital needs of the Company’s subsidiaries and provide short-term liquidity.
All outstanding amounts were repaid in April 2013. On October 3, 2013, the Company terminated the
commercial paper program along with the guarantee provided by ING V.
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