Voya 2014 Annual Report Download - page 367

Voya Financial, Inc.
Notes to the Consolidated Financial Statements
(Dollar amounts in millions, unless otherwise stated)
On December 1, 2008, the DECD determined that the Company had met the employment thresholds for loan
forgiveness and, accordingly, forgave $5.0 of the DECD Loan to VRIAC in accordance with the terms of the
DECD Loan. The DECD Loan provides additional loan forgiveness at varying amounts up to $4.9 if VRIAC and
its Voya affiliates meet certain employment thresholds at the Windsor Property during years five through ten of
the loan. VRIAC’s obligations under the DECD Loan are secured by an unlimited recourse guaranty from Voya
Services Company. In November 2012, VRIAC provided a letter of credit to the DECD in the amount of $10.6 as
security for its repayment obligations with respect to the loan.
As of December 31, 2014 and 2013, the amount of the loan outstanding was $4.9, which is reflected in Long-
term debt on the Consolidated Balance Sheets.
Credit Facilities
The Company maintains credit facilities used primarily for collateral required under affiliated reinsurance
transactions and also for general corporate purposes. As of December 31, 2014, unsecured and uncommitted
credit facilities totaled $1.7, unsecured and committed credit facilities totaled $7.8 billion and secured facilities
totaled $10.0. Of the aggregate $7.8 billion ($1.3 billion with ING Bank, N.V. (“ING Bank”), an affiliate)
capacity available, the Company utilized $5.2 billion ($1.2 billion with ING Bank) in credit facilities outstanding
as of December 31, 2014. Total fees associated with credit facilities for the years ended 2014, 2013 and 2012
were $120.6, $149.3 and $223.2, respectively.
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