ING DIRECT Prices A$750m In Mortgage Backed Securities ING Bank (Australia) Limited (“ING DIRECT”) today announced that it has priced its third public residential mortgage backed securitisation issue, IDOL Trust Series 2011-2. The $750 million issue securitises a portfolio of res... November 11, 2011 ING Bank (Australia) Limited (“ING DIRECT”) today announced that it has priced its third public residential mortgage backed securitisation issue, IDOL Trust Series 2011-2. The $750 million issue securitises a portfolio of residential home loans originated and serviced by ING DIRECT. The IDOL Trust Series 2011-2 issue comprises the following securities: Class Expected S&P/Moody’s Rating Size Expected Weighted Average Life (yrs) Coupon A1 AAA(sf)/Aaa(sf) A$597.5m 2.7 1M BBSW +1.35% A2 AAA(sf)/Aaa(sf) A$100.0m 5 yr soft bullet Fixed 5.50% AB AAA(sf)/Aaa(sf) A$15.0m 6.2 Not disclosed AC AAA(sf)/NR A$18.75m 6.2 No disclosed B AA-(sf)/NR A$18.75m 6.2 Not disclosed Total   A$750.0m       The Australian Office of Financial Management purchased $146.5m of the Class A1 notes and $50.0m of the Class A2 notes. ING DIRECT is Australia’s fifth largest retail bank with services across home lending, savings and payments. ING DIRECT Treasurer Michael Witts says the deal is part of a strategy to diversify the bank’s funding base. “The bank is using securitisation as part of a process of setting up a foundation for long term sustainable growth in lending,” Mr Witts said. Westpac Banking Corporation is acting as Arranger for the transaction. Westpac, Commonwealth Bank of Australia and Macquarie Bank Limited are acting as Joint Lead Managers. ING Bank N.V., Singapore Branch is acting as Co Managers The issue is due to settle on 18 November 2011.