ING U.S. Completes a $5 Billion Senior Unsecured Credit Facility Agreement
ING Insurance U.S. (ING U.S.) announced today that it has completed a $5 billion senior unsecured credit facility agreement with a syndicate of banks led by Bank of America Merrill Lynch, Citibank, ING Bank, and JP Morgan.
The credit facility, which was over-subscribed and replaces a previous syndicated letter of credit facility, consists of a $3.5 billion three-year letter of credit facility and a $1.5 billion two-year term loan. This credit facility relies on ING U.S.’s standalone credit.
Dana Ripley, ING U.S
Victorina de Boer, ING Group
Matt Keppler, ING Group
ING U.S. constitutes the U.S.-based retirement, insurance and investment management operations of Dutch-based ING Groep N.V. (NYSE: ING). In the U.S., the ING family of companies offers a comprehensive array of financial services to retail and institutional clients, including life insurance, retirement plans, mutual funds, managed accounts, alternative investments, institutional investment management, annuities, employee benefits and financial planning. ING holds top-tier rankings in key U.S. markets and serves approximately 15 million customers across the nation. For more information, visit http://ing.us.