New Issue: ING prices $1.25 billion five-year extendible floaters to yield Libor plus 45 bps

By Andrea Heisinger

Omaha, May 21 - ING USA Global Funding Trust 6 priced $1.25 billion five-year extendible floating-rate notes on Wednesday at an initial interest rate of three-month Libor plus 45 basis points, an informed source said.

The notes (Aa3/AA) priced at par and are non-callable.

The notes have a coupon of Libor plus 45 that steps up by 2 bps after the first year and each year until maturity.

Bookrunners were Morgan Stanley & Co., Inc., Goldman Sachs & Co., HSBC Securities Inc. and ING Securities.

The subsidiary of ING Group is based in Amsterdam.

Issuer:	ING USA Global Funding Trust 6
Issue:	Extendible floating-rate notes
Amount:	$1.25 billion
Maturity:	June 19, 2009 (initial), June 19, 2013 (final)
Bookrunners:	Morgan Stanley & Co., Inc., Goldman Sachs & Co., HSBC Securities Inc., ING Securities
Coupon:	Three-month Libor plus 45 bps, increasing by 2 bps after the first year and each year until maturity
Price:	Par
Call:	Non-callable
Trade date:	May 21
Settlement date:	May 29
Ratings:	Moody's: Aa3
	Standard & Poor's: AA

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