Voya 2013 Annual Report Download - page 401

ING U.S., Inc.
Schedule II
Notes to Condensed Financial Information of Parent
(Dollar amounts in millions, unless otherwise stated)
Subsidiaries Rate Maturity Date 2013 2012
ING Alternative Asset Management LLC ............. -3.44% 6/30/2014 $ 4.1 $ 6.4
ING Institutional Plan Services, LLC ................. 1.02% 1/3/2013 — 8.0
ING Institutional Plan Services, LLC ................. 1.12% 1/14/2013 — 4.0
ING Investment Management ....................... 1.02% 1/7/2014 8.0 —
ING North America Insurance Corporation ............ 0.90% 1/2/2014 69.8 53.6
Lion Connecticut Holdings Inc. ..................... 1.12% 1/3/2014 69.2 —
Lion Connecticut Holdings Inc. ..................... 1.12% 1/9/2014 34.5 —
Lion Connecticut Holdings Inc. ..................... 1.12% 1/14/2014 21.7 —
Security Life of Denver International Limited .......... 1.12% 1/14/2014 4.0 5.0
Total .......................................... $211.3 $77.0
Interest income earned on loans to subsidiaries of $2.0, $1.1, and $8.1 for the years ended December 31, 2013,
2012 and 2011, respectively, is included in Net investment income.
3. Financing Agreements
Short-term Debt
The following table summarizes ING U.S., Inc.’s short-term debt and the related weighted average interest rate
on short-term borrowings as of December 31, 2013 and 2012:
Weighted
Average Rate
2013 2012 2013 2012
Commercial paper ...................................... $— $192.0 — % 1.22%
Inter-company financing—subsidiaries ...................... — 319.1 — % 0.19%
Current portion of long-term debt .......................... — 375.0 — % 2.21%
Total ................................................. $— $886.1
Commercial Paper
ING U.S., Inc. had a commercial paper program with an authorized capacity of $3.0 billion, which was
guaranteed by ING V. ING U.S., Inc.’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, ING U.S., Inc. terminated the commercial paper program along with
the guarantee provided by ING V.
Inter-company financing
Under the reciprocal loan agreements with subsidiaries, interest on any borrowing by ING U.S., Inc. from a
subsidiary was charged during 2013 at a rate based on the prevailing interest rate of U.S. commercial paper
available for purchase with a similar duration. Effective January 2014, interest on any borrowing under
reciprocal loan agreements is charged at a rate based on the prevailing market interest for similar third-party
borrowings or securities.
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