N-Q 1 a09-35008_1nq.htm N-Q

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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

 

FORM N-Q

 

Quarterly Schedule of Portfolio Holdings of Registered
Management Investment Company

 

Investment Company Act file number:  811-10223

 

ING Senior Income Fund

(Exact name of registrant as specified in charter)

 

7337 E. Doubletree Ranch Rd., Scottsdale, AZ 85258

(Address of principal executive offices)        (Zip code)

 

The Corporation Trust Company, 1209 Orange Street, Wilmington, DE 19801
(Name and address of agent for service)

 

Registrant’s telephone number, including area code: 1-800-992-0180

 

Date of fiscal year end:

February 28

 

 

Date of reporting period:

November 30, 2009

 



 

Item 1. Schedule of Investments

 

The schedules of investments as of the close of the reporting period are set forth below for:

 

ING Senior Income Fund

 

The schedules are not audited.

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Senior Loans*: 114.0%

 

 

 

 

 

 

Aerospace & Defense: 1.8%

 

 

 

 

 

 

 

 

 

 

Avio Group

 

NR

 

NR

 

 

$

87,000

 

 

 

Term Loan, 2.993%, maturing December 13, 2015

 

 

 

 

 

$

79,415

 

 

 

 

Delta Airlines, Inc.

 

Ba2

 

BB-

 

 

2,940,000

 

 

 

Term Loan, 2.277%, maturing April 30, 2012

 

 

 

 

 

2,606,801

500,000

 

 

 

Term Loan, 8.750%, maturing September 27, 2013

 

 

 

 

 

499,791

 

 

 

 

Delta Airlines, Inc.

 

B2

 

B

 

 

5,889,647

 

 

 

Term Loan, 3.534%, maturing April 30, 2014

 

 

 

 

 

4,827,408

 

 

 

 

Forgings International, Ltd.

 

NR

 

NR

 

 

500,000

 

(3)

 

Term Loan, maturing August 11, 2014

 

 

 

 

 

440,750

500,000

 

(3)

 

Term Loan, maturing August 11, 2015

 

 

 

 

 

440,250

 

 

 

 

McKechnie Aerospace DE, Inc.

 

B1

 

B+

 

 

2,198,733

 

(3)

 

Term Loan, 2.250%, maturing May 11, 2014

 

 

 

 

 

2,044,822

 

 

 

 

Spirit Aerosystems, Inc.

 

Ba2

 

BBB-

 

 

442,803

 

 

 

Term Loan, 2.034%, maturing September 30, 2013

 

 

 

 

 

426,198

 

 

 

 

Transdigm, Inc.

 

Ba2

 

BB-

 

 

1,000,000

 

 

 

Term Loan, 2.289%, maturing June 23, 2013

 

 

 

 

 

953,750

 

 

 

 

United Airlines, Inc.

 

B3

 

B+

 

 

4,423,958

 

 

 

Term Loan, 2.313%, maturing February 01, 2014

 

 

 

 

 

3,441,207

 

 

 

 

 

 

 

 

 

 

15,760,392

Automobile: 2.4%

 

 

 

 

 

 

 

 

 

 

Dollar Thrifty Automotive Group, Inc.

 

B2

 

B-

 

 

1,597,036

 

(3)

 

Term Loan, 2.734%, maturing June 15, 2014

 

 

 

 

 

1,341,510

 

 

 

 

Ford Motor Company

 

Ba3

 

B-

 

 

10,534,431

 

(3)

 

Term Loan, 3.287%, maturing December 16, 2013

 

 

 

 

 

9,296,635

 

 

 

 

KAR Holdings, Inc.

 

Ba3

 

B

 

 

5,785,568

 

 

 

Term Loan, 2.490%, maturing October 18, 2013

 

 

 

 

 

5,366,114

 

 

 

 

Oshkosh Truck Corporation

 

B2

 

BB-

 

 

3,206,363

 

 

 

Term Loan, 6.316%, maturing December 06, 2013

 

 

 

 

 

3,206,584

 

 

 

 

TRW Automotive, Inc.

 

Ba3

 

BB-

 

 

2,389,828

 

 

 

Term Loan, 6.250%, maturing February 09, 2014

 

 

 

 

 

2,390,576

 

 

 

 

 

 

 

 

 

 

21,601,419

Beverage, Food & Tobacco: 2.6%

 

 

 

 

 

 

 

 

 

 

ARAMARK Corporation

 

Ba3

 

BB

 

 

1,900,230

 

 

 

Term Loan, 2.158%, maturing January 26, 2014

 

 

 

 

 

1,710,207

831,811

 

 

 

Term Loan, 2.145%, maturing January 27, 2014

 

 

 

 

 

753,251

1,920,224

 

 

 

Term Loan, 2.155%, maturing January 27, 2014

 

 

 

 

 

1,738,871

 

 

 

 

Pierre Foods

 

B2

 

BB-

 

 

831,250

 

 

 

Term Loan, 8.500%, maturing September 30, 2014

 

 

 

 

 

839,562

 

 

 

 

Pinnacle Foods Holding Corporation

 

B2

 

B

 

 

7,526,750

 

 

 

Term Loan, 2.994%, maturing April 02, 2014

 

 

 

 

 

6,875,686

 

 

 

 

Sturm Foods, Inc.

 

B2

 

B-

 

 

2,901,428

 

 

 

Term Loan, 2.813%, maturing January 31, 2014

 

 

 

 

 

2,685,634

 

 

 

 

United Biscuits

 

NR

 

NR

 

 

GBP

2,500,000

 

 

 

Term Loan, 3.389%, maturing December 15, 2014

 

 

 

 

 

3,878,960

EUR

775,940

 

 

 

Term Loan, 3.684%, maturing December 15, 2014

 

 

 

 

 

1,110,257

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Beverage, Food & Tobacco (continued)

 

 

 

 

 

 

 

 

 

 

Van Houtte, Inc.

 

Ba3

 

BB-

 

 

$

1,726,595

 

 

 

Term Loan, 2.783%, maturing July 19, 2014

 

 

 

 

 

$

1,647,819

235,445

 

 

 

Term Loan, 2.783%, maturing July 19, 2014

 

 

 

 

 

224,703

 

 

 

 

Wm. Wrigley Jr. Company

 

Baa3

 

BBB

 

 

1,443,750

 

 

 

Term Loan, 6.500%, maturing September 30, 2014

 

 

 

 

 

1,451,868

 

 

 

 

 

 

 

 

 

 

22,916,818

Buildings & Real Estate: 1.9%

 

 

 

 

 

 

 

 

 

 

Capital Automotive, L.P.

 

Ba3

 

B

 

 

4,080,063

 

 

 

Term Loan, 2.750%, maturing December 14, 2012

 

 

 

 

 

3,604,055

 

 

 

 

Contech Construction Products, Inc.

 

B1

 

B

 

 

2,516,620

 

 

 

Term Loan, 2.240%, maturing January 31, 2013

 

 

 

 

 

2,264,958

 

 

 

 

Custom Building Products, Inc.

 

Ba2

 

BB-

 

 

2,332,396

 

 

 

Term Loan, 8.000%, maturing October 29, 2011

 

 

 

 

 

2,271,171

 

 

 

 

John Maneely Company

 

B3

 

B

 

 

4,205,767

 

 

 

Term Loan, 3.508%, maturing December 09, 2013

 

 

 

 

 

3,874,563

 

 

 

 

KCPC Acquisition, Inc.

 

Ba2

 

B-

 

 

189,655

 

 

 

Term Loan, 2.563%, maturing May 22, 2014

 

 

 

 

 

145,086

522,257

 

 

 

Term Loan, 2.563%, maturing May 22, 2014

 

 

 

 

 

399,527

 

 

 

 

Tishman Speyer

 

NR

 

D

 

 

3,000,000

 

(2)

 

Term Loan, 0.000%, maturing December 27, 2012

 

 

 

 

 

1,912,500

2,552,632

 

(3)

 

Term Loan, 12.750%, maturing December 05, 2009

 

 

 

 

 

2,559,013

 

 

 

 

 

 

 

 

 

 

17,030,873

Cargo Transport: 1.5%

 

 

 

 

 

 

 

 

 

 

Baker Tanks, Inc.

 

B1

 

B

 

 

3,412,500

 

 

 

Term Loan, 2.507%, maturing May 08, 2014

 

 

 

 

 

2,957,501

 

 

 

 

Dockwise Transport, N.V.

 

NR

 

NR

 

 

939,270

 

 

 

Term Loan, 2.283%, maturing January 11, 2015

 

 

 

 

 

901,307

1,285,414

 

 

 

Term Loan, 2.283%, maturing January 11, 2015

 

 

 

 

 

1,233,461

1,077,443

 

 

 

Term Loan, 3.158%, maturing January 11, 2016

 

 

 

 

 

1,033,896

939,270

 

 

 

Term Loan, 3.158%, maturing January 11, 2016

 

 

 

 

 

901,307

750,000

 

 

 

Term Loan, 4.783%, maturing July 11, 2016

 

 

 

 

 

665,625

700,000

 

 

 

Term Loan, 4.783%, maturing July 11, 2016

 

 

 

 

 

621,250

 

 

(1)

 

Gainey Corporation

 

NR

 

NR

 

 

1,129,382

 

(2)

 

Term Loan, 11.250%, maturing April 20, 2012

 

 

 

 

 

296,463

 

 

 

 

Inmar, Inc.

 

B1

 

B

 

 

644,268

 

 

 

Term Loan, 2.490%, maturing April 30, 2013

 

 

 

 

 

586,283

 

 

 

 

TNT Logistics

 

B1

 

B-

 

 

1,872,140

 

 

 

Term Loan, 3.244%, maturing November 04, 2013

 

 

 

 

 

1,586,639

723,070

 

 

 

Term Loan, 3.283%, maturing November 04, 2013

 

 

 

 

 

609,187

1,000,000

 

(3)

 

Term Loan, maturing January 04, 2014

 

 

 

 

 

847,500

 

 

 

 

US Shipping Partners, L.P.

 

NR

 

NR

 

 

1,190,583

 

 

 

Term Loan, 9.200%, maturing November 12, 2013

 

 

 

 

 

904,843

 

 

 

 

 

 

 

 

 

 

13,145,262

Cellular: 0.1%

 

 

 

 

 

 

 

 

 

 

NTELOS, Inc.

 

Ba3

 

BB

 

 

1,000,000

 

 

 

Term Loan, 5.750%, maturing August 07, 2015

 

 

 

 

 

1,002,500

 

 

 

 

 

 

 

 

 

 

1,002,500

Chemicals, Plastics & Rubber: 7.6%

 

 

 

 

 

 

 

 

 

 

AZ Chem US, Inc.

 

B1

 

BB-

 

 

EUR

703,473

 

 

 

Term Loan, 2.818%, maturing February 26, 2013

 

 

 

 

 

1,001,880

 

 

 

 

Borsodchem Nyrt.

 

NR

 

NR

 

 

EUR

822,816

 

(2)

 

Term Loan, 3.042%, maturing September 19, 2014

 

 

 

 

 

905,098

EUR

824,838

 

(2)

 

Term Loan, 3.545%, maturing September 19, 2015

 

 

 

 

 

907,323

 

 

 

 

Brenntag Holding GmbH & Co. KG

 

B1

 

BB-

 

 

5,313,148

 

 

 

Term Loan, 1.987%, maturing January 20, 2014

 

 

 

 

 

$

5,020,925

1,727,096

 

 

 

Term Loan, 2.042%, maturing January 20, 2014

 

 

 

 

 

1,666,648

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Chemicals, Plastics & Rubber (continued)

 

 

 

 

 

 

 

 

 

 

Celanese

 

Ba2

 

BB+

 

 

$

3,442,334

 

 

 

Term Loan, 1.994%, maturing April 02, 2014

 

 

 

 

 

$

3,214,279

 

 

 

 

Cristal Inorganic Chemicals, Inc.

 

B1

 

B

 

 

3,302,275

 

 

 

Term Loan, 2.533%, maturing May 15, 2014

 

 

 

 

 

2,950,032

 

 

 

 

GenTek Holding, LLC

 

B1

 

B+

 

 

333,333

 

 

 

Term Loan, 7.000%, maturing October 28, 2014

 

 

 

 

 

335,764

 

 

 

 

Hexion Specialty Chemicals, Inc.

 

B1

 

CCC+

 

 

1,728,000

 

 

 

Term Loan, 2.452%, maturing May 05, 2013

 

 

 

 

 

1,259,280

7,805,544

 

 

 

Term Loan, 2.563%, maturing May 06, 2013

 

 

 

 

 

6,502,018

1,694,736

 

 

 

Term Loan, 2.563%, maturing May 06, 2013

 

 

 

 

 

1,411,715

970,000

 

 

 

Term Loan, 2.563%, maturing May 06, 2013

 

 

 

 

 

808,010

 

 

 

 

Huntsman International, LLC

 

Ba2

 

B+

 

 

3,550,000

 

(3)

 

Term Loan, 2.484%, maturing June 30, 2016

 

 

 

 

 

3,234,937

 

 

 

 

Ineos US Finance, LLC

 

Caa1

 

B-

 

 

2,306,641

 

 

 

Term Loan, 7.001%, maturing December 17, 2012

 

 

 

 

 

2,056,756

EUR

133,495

 

 

 

Term Loan, 5.519%, maturing December 16, 2013

 

 

 

 

 

172,862

EUR

755,041

 

 

 

Term Loan, 5.519%, maturing December 16, 2013

 

 

 

 

 

977,695

2,645,510

 

 

 

Term Loan, 7.501%, maturing December 16, 2013

 

 

 

 

 

2,285,059

2,644,393

 

 

 

Term Loan, 10.001%, maturing December 16, 2014

 

 

 

 

 

2,284,095

EUR

754,568

 

 

 

Term Loan, 6.019%, maturing December 16, 2014

 

 

 

 

 

977,083

EUR

133,435

 

 

 

Term Loan, 6.019%, maturing December 16, 2014

 

 

 

 

 

172,784

 

 

 

 

ISP Chemco, Inc.

 

Ba3

 

BB-

 

 

3,897,627

 

 

 

Term Loan, 2.000%, maturing June 04, 2014

 

 

 

 

 

$

3,659,595

 

 

 

 

JohnsonDiversey, Inc.

 

Ba2

 

BB-

 

 

1,700,000

 

(3)

 

Term Loan, maturing November 24, 2015

 

 

 

 

 

1,700,000

 

 

 

 

Kraton Polymers, LLC

 

B1

 

B

 

 

1,979,487

 

 

 

Term Loan, 2.313%, maturing May 13, 2013

 

 

 

 

 

1,883,482

 

 

(1)

 

Lyondell Chemical Company

 

Ba1

 

NR

 

 

2,174,333

 

 

 

Debtor In Possession Term Loan, 9.168%, maturing February 03, 2010

 

 

 

 

 

2,259,676

 

 

(1)

 

Lyondell Chemical Company

 

Ba3

 

NR

 

 

5,254,207

 

 

 

Debtor In Possession Term Loan, 5.279%, maturing February 03, 2010

 

 

 

 

 

5,129,420

 

 

(1)

 

Lyondell Chemical Company

 

NR

 

NR

 

 

430,440

 

 

 

Term Loan, 3.736%, maturing December 20, 2013

 

 

 

 

 

315,432

705,485

 

 

 

Revolver, 3.736%, maturing December 22, 2014

 

 

 

 

 

515,004

188,129

 

 

 

Revolver, 3.736%, maturing December 22, 2014

 

 

 

 

 

137,864

1,344,149

 

 

 

Term Loan, 3.736%, maturing December 22, 2014

 

 

 

 

 

981,228

540,102

 

 

 

Term Loan, 3.986%, maturing December 22, 2014

 

 

 

 

 

395,793

540,102

 

 

 

Term Loan, 3.986%, maturing December 22, 2014

 

 

 

 

 

395,793

540,102

 

 

 

Term Loan, 3.986%, maturing December 22, 2014

 

 

 

 

 

395,793

2,343,652

 

 

 

Term Loan, 7.000%, maturing December 22, 2014

 

 

 

 

 

1,710,866

2,343,652

 

 

 

Term Loan, 7.000%, maturing December 22, 2014

 

 

 

 

 

1,710,866

2,343,652

 

 

 

Term Loan, 7.000%, maturing December 22, 2014

 

 

 

 

 

1,710,866

 

 

 

 

MacDermid, Inc.

 

B2

 

B+

 

 

EUR

1,864,792

 

 

 

Term Loan, 2.638%, maturing April 11, 2014

 

 

 

 

 

2,264,437

1,842,761

 

 

 

Term Loan, 2.236%, maturing April 12, 2014

 

 

 

 

 

1,606,274

 

 

(1)

 

Northeast Biofuels, LLC

 

NR

 

NR

 

 

115,095

 

(2)

 

Term Loan, 10.750%, maturing June 28, 2013

 

 

 

 

 

$

17,264

 

 

 

 

Polypore, Inc.

 

Ba2

 

BB-

 

 

3,258,333

 

 

 

Term Loan, 2.490%, maturing July 03, 2014

 

 

 

 

 

3,005,812

 

 

 

 

 

 

 

 

 

 

67,939,708

Containers, Packaging & Glass: 3.0%

 

 

 

 

 

 

 

 

 

 

Berry Plastics Corporation

 

B1

 

B

 

 

5,727,985

 

 

 

Term Loan, 2.300%, maturing April 03, 2015

 

 

 

 

 

4,852,875

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Containers, Packaging & Glass (continued)

 

 

 

 

 

 

 

 

 

 

Graham Packaging Company

 

B1

 

B+

 

 

$

273,436

 

 

 

Term Loan, 2.500%, maturing October 07, 2011

 

 

 

 

 

$

265,282

2,736,490

 

 

 

Term Loan, 6.750%, maturing April 05, 2014

 

 

 

 

 

2,738,543

 

 

 

 

Graphic Packaging International, Inc.

 

Ba3

 

BB-

 

 

6,013,106

 

 

 

Term Loan, 2.417%, maturing May 16, 2014

 

 

 

 

 

5,639,433

 

 

 

 

Klockner Pentaplast

 

NR

 

NR

 

 

4,078,679

 

 

 

Term Loan, 3.523%, maturing January 03, 2016

 

 

 

 

 

3,134,465

 

 

 

 

Owens-Illinois

 

Baa3

 

BBB-

 

 

EUR

654,375

 

 

 

Term Loan, 1.930%, maturing June 14, 2013

 

 

 

 

 

945,444

 

 

 

 

Pro Mach, Inc.

 

B1

 

B

 

 

2,322,790

 

 

 

Term Loan, 2.490%, maturing December 14, 2011

 

 

 

 

 

$

2,090,511

 

 

 

 

Reynolds Consumer Products Holdings, Inc.

 

B1

 

BB-

 

 

1,250,000

 

(3)

 

Term Loan, maturing November 06, 2015

 

 

 

 

 

1,251,172

 

 

(1)

 

Smurfit-Stone Container Corporation

 

NR

 

D

 

 

286,513

 

(3)

 

Revolver, 3.057%, maturing November 01, 2009

 

 

 

 

 

280,783

863,924

 

(3)

 

Revolver, 2.841%, maturing November 02, 2009

 

 

 

 

 

846,646

174,149

 

(3)

 

Term Loan, 4.500%, maturing November 01, 2010

 

 

 

 

 

170,231

197,323

 

(3)

 

Term Loan, 2.500%, maturing November 01, 2011

 

 

 

 

 

192,883

371,921

 

(3)

 

Term Loan, 2.500%, maturing November 01, 2011

 

 

 

 

 

364,018

112,448

 

(3)

 

Term Loan, 2.500%, maturing November 01, 2011

 

 

 

 

 

109,567

 

 

 

 

Tegrant Holding Company

 

Caa3

 

CC

 

 

500,000

 

 

 

Term Loan, 5.790%, maturing March 08, 2015

 

 

 

 

 

192,500

 

 

 

 

Xerium Technologies, Inc.

 

Caa3

 

CC

 

 

4,402,559

 

 

 

Term Loan, 5.783%, maturing May 18, 2012

 

 

 

 

 

3,650,456

 

 

 

 

 

 

 

 

 

 

26,724,809

Data and Internet Services: 6.1%

 

 

 

 

 

 

 

 

 

 

Activant Solutions, Inc.

 

B1

 

B

 

 

43,744

 

 

 

Term Loan, 2.812%, maturing May 01, 2013

 

 

 

 

 

40,326

3,031,726

 

 

 

Term Loan, 2.313%, maturing May 02, 2013

 

 

 

 

 

2,794,873

 

 

 

 

Amadeus IT Group, S.A.

 

NR

 

NR

 

 

EUR

1,268,581

 

 

 

Term Loan, 2.424%, maturing July 01, 2013

 

 

 

 

 

1,775,799

EUR

1,268,581

 

 

 

Term Loan, 2.924%, maturing July 01, 2014

 

 

 

 

 

1,775,799

 

 

 

 

Audatex

 

Ba3

 

BB-

 

 

1,071,461

 

 

 

Term Loan, 2.063%, maturing May 16, 2014

 

 

 

 

 

$

1,025,254

 

 

 

 

Carlson Wagonlit Holdings, B.V.

 

B2

 

CCC+

 

 

2,637,337

 

 

 

Term Loan, 4.031%, maturing August 03, 2012

 

 

 

 

 

2,261,516

 

 

 

 

First Data Corporation

 

B1

 

B+

 

 

2,624,335

 

 

 

Term Loan, 2.990%, maturing September 24, 2014

 

 

 

 

 

2,193,141

5,020,154

 

 

 

Term Loan, 3.035%, maturing September 24, 2014

 

 

 

 

 

4,188,344

8,149,591

 

 

 

Term Loan, 3.035%, maturing September 24, 2014

 

 

 

 

 

6,788,495

 

 

 

 

L-1 Identity Solutions Operating Company

 

Ba3

 

BB+

 

 

480,047

 

 

 

Term Loan, 7.250%, maturing August 05, 2013

 

 

 

 

 

482,047

 

 

 

 

Language Line, Inc.

 

Ba3

 

B+

 

 

1,785,714

 

 

 

Term Loan, 5.750%, maturing November 04, 2015

 

 

 

 

 

1,757,813

 

 

 

 

Mitchell International, Inc.

 

Caa1

 

CCC+

 

 

250,000

 

 

 

Term Loan, 5.563%, maturing March 30, 2015

 

 

 

 

 

205,000

 

 

 

 

Orbitz

 

B2

 

B+

 

 

7,795,378

 

 

 

Term Loan, 3.256%, maturing July 25, 2014

 

 

 

 

 

7,004,701

 

 

 

 

Reynolds & Reynolds Company

 

Ba2

 

BB

 

 

5,180,995

 

 

 

Term Loan, 2.234%, maturing October 26, 2012

 

 

 

 

 

4,743,849

 

 

 

 

Sabre, Inc.

 

B1

 

B

 

 

8,117,064

 

 

 

Term Loan, 2.491%, maturing September 30, 2014

 

 

 

 

 

6,933,888

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Data and Internet Services (continued)

 

 

 

 

 

 

 

 

 

 

Sitel, LLC

 

B3

 

B

 

 

$

1,855,028

 

 

 

Term Loan, 5.768%, maturing January 30, 2014

 

 

 

 

 

$

1,618,512

 

 

 

 

Sungard Data Systems, Inc.

 

Ba3

 

BB

 

 

106,016

 

 

 

Term Loan, 1.992%, maturing February 28, 2014

 

 

 

 

 

97,485

1,482,519

 

 

 

Term Loan, 6.750%, maturing February 28, 2014

 

 

 

 

 

1,499,568

2,868,486

 

 

 

Term Loan, 3.899%, maturing February 26, 2016

 

 

 

 

 

2,709,696

 

 

 

 

Transaction Network Services, Inc.

 

Ba3

 

BB

 

 

2,500,000

 

 

 

Term Loan, 6.000%, maturing November 17, 2015

 

 

 

 

 

2,501,172

 

 

 

 

Travelport, Inc.

 

Ba3

 

B

 

 

1,556,322

 

 

 

Term Loan, 2.781%, maturing August 23, 2013

 

 

 

 

 

1,385,127

977,500

 

 

 

Term Loan, 2.781%, maturing August 23, 2013

 

 

 

 

 

874,374

312,277

 

 

 

Term Loan, 2.783%, maturing August 23, 2013

 

 

 

 

 

277,926

 

 

 

 

 

 

 

 

 

 

54,934,705

Diversified / Conglomerate Manufacturing: 3.5%

 

 

 

 

 

 

 

 

 

 

BOC Edwards

 

B3

 

B

 

 

3,176,875

 

 

 

Term Loan, 2.256%, maturing May 31, 2014

 

 

 

 

 

2,680,488

 

 

 

 

Brand Services, Inc.

 

B1

 

B

 

 

2,801,438

 

 

 

Term Loan, 2.313%, maturing February 07, 2014

 

 

 

 

 

2,521,294

1,225,000

 

 

 

Term Loan, 3.563%, maturing February 07, 2014

 

 

 

 

 

1,123,325

 

 

 

 

Brand Services, Inc.

 

Caa1

 

CCC+

 

 

1,600,000

 

 

 

Term Loan, 6.313%, maturing February 06, 2015

 

 

 

 

 

1,291,000

 

 

 

 

Dresser, Inc.

 

B2

 

B+

 

 

4,352,885

 

 

 

Term Loan, 2.521%, maturing May 04, 2014

 

 

 

 

 

4,017,090

 

 

 

 

EPD, Inc.

 

B3

 

NR

 

 

552,656

 

 

 

Term Loan, 2.490%, maturing July 31, 2014

 

 

 

 

 

440,882

3,858,750

 

 

 

Term Loan, 2.490%, maturing July 31, 2014

 

 

 

 

 

3,078,318

 

 

 

 

Ferretti, S.P.A.

 

NR

 

NR

 

 

EUR

577,808

 

 

 

Term Loan, 3.794%, maturing January 31, 2015

 

 

 

 

 

319,058

EUR

578,801

 

 

 

Term Loan, 4.294%, maturing January 31, 2016

 

 

 

 

 

319,606

EUR

93,038

 

 

 

Term Loan, 6.794%, maturing January 31, 2017

 

 

 

 

 

17,435

 

 

 

 

Flextronics International, Ltd.

 

Ba1

 

BB+

 

 

906,250

 

 

 

Term Loan, 2.518%, maturing October 01, 2014

 

 

 

 

 

$

834,278

259,790

 

 

 

Term Loan, 2.534%, maturing October 01, 2014

 

 

 

 

 

239,158

 

 

 

 

Manitowoc Company, Inc.

 

B1

 

BB

 

 

3,984,950

 

 

 

Term Loan, 7.500%, maturing November 06, 2014

 

 

 

 

 

3,838,005

 

 

 

 

Mueller Group, Inc.

 

B1

 

BB-

 

 

568,507

 

 

 

Term Loan, 5.281%, maturing May 23, 2014

 

 

 

 

 

558,914

 

 

 

 

Rexnord Corporation / RBS Global, Inc.

 

B1

 

BB-

 

 

972,500

 

 

 

Term Loan, 2.500%, maturing July 19, 2013

 

 

 

 

 

919,418

1,000,000

 

 

 

Term Loan, 2.786%, maturing July 19, 2013

 

 

 

 

 

945,417

 

 

 

 

Sensata Technologies

 

B3

 

B

 

 

6,100,864

 

 

 

Term Loan, 2.031%, maturing April 26, 2013

 

 

 

 

 

5,429,769

EUR

1,935,051

 

 

 

Term Loan, 2.728%, maturing April 26, 2013

 

 

 

 

 

2,509,304

 

 

 

 

Textron Fastening Systems

 

Caa1

 

CCC+

 

 

490,106

 

 

 

Term Loan, 14.000%, maturing August 11, 2013

 

 

 

 

 

$

336,948

 

 

 

 

 

 

 

 

 

 

31,419,707

Diversified / Conglomerate Service: 3.2%

 

 

 

 

 

 

 

 

 

 

Affinion Group

 

Ba2

 

BB

 

 

3,899,193

 

 

 

Term Loan, 2.734%, maturing October 17, 2012

 

 

 

 

 

3,707,482

 

 

 

 

AlixPartners, LLP

 

Ba3

 

BB

 

 

2,578,769

 

 

 

Term Loan, 2.292%, maturing October 12, 2013

 

 

 

 

 

2,485,289

 

 

 

 

Brickman Group

 

Ba3

 

BB-

 

 

1,437,215

 

 

 

Term Loan, 2.283%, maturing January 23, 2014

 

 

 

 

 

1,336,610

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Diversified / Conglomerate Service (continued)

 

 

 

 

 

 

 

 

 

 

Brock Holdings, Inc.

 

Caa1

 

B

 

 

$

1,398,885

 

 

 

Term Loan, 2.604%, maturing February 26, 2014

 

 

 

 

 

$

1,122,605

 

 

 

 

Catalina Marketing Corporation

 

Ba3

 

BB-

 

 

3,355,225

 

 

 

Term Loan, 2.987%, maturing October 01, 2014

 

 

 

 

 

3,131,543

 

 

 

 

Coach America Holdings, Inc.

 

B2

 

B

 

 

2,335,057

 

 

 

Term Loan, 3.040%, maturing April 18, 2014

 

 

 

 

 

2,101,552

493,837

 

 

 

Term Loan, 2.940%, maturing April 20, 2014

 

 

 

 

 

444,453

 

 

 

 

Intergraph Corporation

 

Ba3

 

BB-

 

 

1,000,000

 

 

 

Term Loan, 2.256%, maturing May 29, 2014

 

 

 

 

 

938,750

 

 

 

 

ISS Global A/S

 

NR

 

NR

 

 

EUR

245,614

 

 

 

Term Loan, 2.771%, maturing December 31, 2013

 

 

 

 

 

341,684

EUR

1,754,386

 

 

 

Term Loan, 2.771%, maturing December 31, 2013

 

 

 

 

 

2,440,602

 

 

 

 

ISTA International GmbH

 

NR

 

NR

 

 

EUR

1,622,153

 

(3)

 

Term Loan, maturing May 14, 2015

 

 

 

 

 

2,210,281

EUR

377,847

 

(3)

 

Term Loan, maturing May 14, 2015

 

 

 

 

 

514,840

 

 

 

 

Valleycrest Companies, LLC

 

B1

 

B

 

 

1,801,197

 

 

 

Term Loan, 2.290%, maturing March 12, 2014

 

 

 

 

 

$

1,657,101

 

 

 

 

Vertafore, Inc.

 

B1

 

B

 

 

1,012,806

 

 

 

Term Loan, 5.500%, maturing July 31, 2014

 

 

 

 

 

969,762

 

 

 

 

West Corporation

 

B1

 

BB-

 

 

2,167,340

 

 

 

Term Loan, 2.612%, maturing October 24, 2013

 

 

 

 

 

1,947,888

3,148,379

 

 

 

Term Loan, 4.111%, maturing July 15, 2016

 

 

 

 

 

2,921,696

 

 

 

 

 

 

 

 

 

 

28,272,138

Diversified Natural Resources, Precious Metals & Minerals: 0.4%

 

 

 

 

 

 

 

 

 

 

Georgia Pacific, LLC

 

Ba2

 

BBB

 

 

1,177,135

 

 

 

Term Loan, 2.295%, maturing December 20, 2012

 

 

 

 

 

1,121,733

1,994,872

 

 

 

Term Loan, 2.273%, maturing December 20, 2012

 

 

 

 

 

1,900,983

648,293

 

 

 

Term Loan, 3.534%, maturing December 20, 2014

 

 

 

 

 

636,948

 

 

 

 

 

 

 

 

 

 

3,659,664

Ecological: 0.1%

 

 

 

 

 

 

 

 

 

 

Synagro Technologies, Inc.

 

B3

 

CCC+

 

 

1,075,250

 

 

 

Term Loan, 2.240%, maturing April 02, 2014

 

 

 

 

 

876,329

 

 

 

 

Synagro Technologies, Inc.

 

Caa3

 

CCC-

 

 

590,000

 

 

 

Term Loan, 4.990%, maturing October 02, 2014

 

 

 

 

 

391,366

 

 

 

 

 

 

 

 

 

 

1,267,695

Electronics: 2.0%

 

 

 

 

 

 

 

 

 

 

Aeroflex, Inc.

 

Ba3

 

BB-

 

 

1,964,922

 

 

 

Term Loan, 3.563%, maturing August 15, 2014

 

 

 

 

 

1,788,900

 

 

 

 

Brocade Communications Systems, Inc.

 

Ba2

 

BB+

 

 

2,547,212

 

 

 

Term Loan, 6.250%, maturing October 07, 2013

 

 

 

 

 

2,565,919

 

 

 

 

Decision One

 

NR

 

NR

 

 

471,529

 

 

 

Term Loan, 15.000%, maturing November 29, 2013

 

 

 

 

 

471,529

 

 

 

 

Freescale Semiconductor, Inc.

 

B2

 

B-

 

 

3,544,396

 

 

 

Term Loan, 1.994%, maturing November 29, 2013

 

 

 

 

 

2,909,357

 

 

 

 

Infor Global Solutions

 

B1

 

B+

 

 

488,750

 

 

 

Term Loan, 2.990%, maturing July 28, 2012

 

 

 

 

 

430,405

EUR

972,500

 

 

 

Term Loan, 3.426%, maturing July 28, 2012

 

 

 

 

 

1,257,458

846,669

 

 

 

Term Loan, 3.990%, maturing July 28, 2012

 

 

 

 

 

$

747,186

1,622,783

 

 

 

Term Loan, 3.990%, maturing July 28, 2012

 

 

 

 

 

1,432,106

 

 

 

 

Infor Global Solutions

 

Caa2

 

CCC+

 

 

EUR

500,000

 

 

 

Term Loan, 6.686%, maturing March 02, 2014

 

 

 

 

 

498,467

 

 

 

 

Kronos, Inc.

 

Ba3

 

B+

 

 

3,596,549

 

 

 

Term Loan, 2.283%, maturing June 11, 2014

 

 

 

 

 

$

3,357,378

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Electronics (continued)

 

 

 

 

 

 

 

 

 

 

ON Semiconductor

 

Baa3

 

BB+

 

 

$

2,625,801

 

 

 

Term Loan, 1.984%, maturing September 03, 2013

 

 

 

 

 

$

2,468,253

 

 

 

 

 

 

 

 

 

 

17,926,958

Finance: 0.9%

 

 

 

 

 

 

 

 

 

 

LPL Holdings, Inc.

 

Ba3

 

B+

 

 

4,356,584

 

 

 

Term Loan, 2.936%, maturing June 28, 2013

 

 

 

 

 

4,063,878

 

 

 

 

Nuveen Investments, Inc.

 

B3

 

B

 

 

4,893,540

 

 

 

Term Loan, 3.281%, maturing November 13, 2014

 

 

 

 

 

4,114,396

 

 

 

 

 

 

 

 

 

 

8,178,274

Foreign Cable, Foreign TV, Radio and Equipment: 3.5%

 

 

 

 

 

 

 

 

 

 

Casema Bidco / Serpering Investments, B.V.

 

NR

 

NR

 

 

EUR

227,032

 

(3)

 

Term Loan, maturing September 15, 2014

 

 

 

 

 

332,874

EUR

112,665

 

(3)

 

Term Loan, maturing September 15, 2014

 

 

 

 

 

165,189

EUR

160,304

 

(3)

 

Term Loan, maturing September 15, 2014

 

 

 

 

 

235,037

EUR

500,000

 

(3)

 

Term Loan, maturing September 14, 2015

 

 

 

 

 

733,100

 

 

 

 

Numericable / YPSO France SAS

 

NR

 

NR

 

 

EUR

446,759

 

 

 

Term Loan, 2.676%, maturing June 16, 2014

 

 

 

 

 

536,179

EUR

1,157,652

 

 

 

Term Loan, 2.676%, maturing June 16, 2014

 

 

 

 

 

1,389,360

EUR

728,922

 

 

 

Term Loan, 2.676%, maturing June 16, 2014

 

 

 

 

 

874,817

EUR

231,625

 

 

 

Term Loan, 3.176%, maturing December 31, 2015

 

 

 

 

 

276,428

EUR

435,042

 

 

 

Term Loan, 3.176%, maturing December 31, 2015

 

 

 

 

 

519,191

 

 

 

 

ProSiebenSat.1 Media AG

 

NR

 

NR

 

 

SEK

2,269,914

 

 

 

Term Loan, 2.108%, maturing July 02, 2014

 

 

 

 

 

269,121

EUR

64,583

 

 

 

Term Loan, 2.464%, maturing July 02, 2014

 

 

 

 

 

80,292

EUR

1,190,021

 

 

 

Term Loan, 2.464%, maturing July 02, 2014

 

 

 

 

 

1,479,462

EUR

60,482

 

 

 

Term Loan, 2.589%, maturing July 03, 2015

 

 

 

 

 

76,998

EUR

1,344,256

 

 

 

Term Loan, 2.589%, maturing July 03, 2015

 

 

 

 

 

1,711,352

 

 

 

 

TDF, S.A.

 

NR

 

NR

 

 

EUR

1,500,000

 

 

 

Term Loan, 2.438%, maturing January 30, 2015

 

 

 

 

 

1,948,519

EUR

1,500,000

 

 

 

Term Loan, 3.403%, maturing January 29, 2016

 

 

 

 

 

1,948,519

 

 

 

 

UPC Financing Partnership

 

Ba3

 

B+

 

 

2,593,151

 

 

 

Term Loan, 1.994%, maturing December 31, 2014

 

 

 

 

 

$

2,403,527

1,406,849

 

 

 

Term Loan, 3.744%, maturing December 30, 2016

 

 

 

 

 

1,343,892

EUR

3,441,622

 

 

 

Term Loan, 4.178%, maturing December 31, 2016

 

 

 

 

 

4,749,970

EUR

2,482,502

 

 

 

Term Loan4.428%, maturing December 31, 2017

 

 

 

 

 

3,456,475

 

 

 

 

Virgin Media Investment Holdings, Ltd.

 

Ba2

 

BB

 

 

GBP

1,117,088

 

 

 

Term Loan, 2.898%, maturing September 03, 2012

 

 

 

 

 

1,802,432

GBP

1,344,879

 

 

 

Term Loan, 2.898%, maturing September 03, 2012

 

 

 

 

 

2,169,975

GBP

515,999

 

 

 

Term Loan, 2.932%, maturing September 03, 2012

 

 

 

 

 

832,570

GBP

262,373

 

 

 

Term Loan, 3.809%, maturing September 03, 2012

 

 

 

 

 

423,341

GBP

500,000

 

 

 

Term Loan, 4.431%, maturing September 03, 2012

 

 

 

 

 

802,063

GBP

500,000

 

 

 

Term Loan, 4.173%, maturing September 03, 2012

 

 

 

 

 

802,063

 

 

 

 

 

 

 

 

 

 

31,362,746

Gaming: 3.8%

 

 

 

 

 

 

 

 

 

 

Cannery Casino Resorts, LLC

 

B3

 

B+

 

 

608,660

 

 

 

Term Loan, 2.487%, maturing May 18, 2013

 

 

 

 

 

$

522,306

503,229

 

 

 

Term Loan, 2.492%, maturing May 20, 2013

 

 

 

 

 

431,833

 

 

 

 

CCM Merger, Inc.

 

B3

 

BB-

 

 

3,154,451

 

 

 

Term Loan, 2.563%, maturing July 13, 2012

 

 

 

 

 

3,013,488

 

 

(1)

 

Fontainebleau Las Vegas, LLC

 

NR

 

NR

 

 

1,000,000

 

(2)

 

Term Loan, 6.000%, maturing June 06, 2014

 

 

 

 

 

318,333

2,000,000

 

(2)

 

Term Loan, 6.000%, maturing June 06, 2014

 

 

 

 

 

636,666

 

 

 

 

Golden Nugget, Inc.

 

Caa3

 

CC

 

 

1,670,849

 

 

 

Term Loan, 2.260%, maturing June 30, 2014

 

 

 

 

 

1,148,709

951,181

 

 

 

Term Loan, 2.262%, maturing June 30, 2014

 

 

 

 

 

653,937

 

 

 

 

Green Valley Ranch Gaming, LLC

 

Caa3

 

CCC+

 

 

938,636

 

 

 

Term Loan, 2.283%, maturing February 16, 2014

 

 

 

 

 

688,724

 

 

 

 

Green Valley Ranch Gaming, LLC

 

Ca

 

CC

 

 

500,000

 

 

 

Term Loan, 3.549%, maturing August 16, 2014

 

 

 

 

 

123,750

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Gaming (continued)

 

 

 

 

 

 

 

 

 

 

Harrahs Operating Company, Inc.

 

Caa1

 

B-

 

 

$

4,102,900

 

 

 

Term Loan, 3.282%, maturing January 28, 2015

 

 

 

 

 

$

3,197,414

1,308,037

 

(3)

 

Term Loan, 3.282%, maturing January 28, 2015

 

 

 

 

 

1,020,269

3,675,717

 

 

 

Term Loan, 3.282%, maturing January 28, 2015

 

 

 

 

 

2,863,122

1,555,556

 

 

 

Term Loan, 9.500%, maturing October 31, 2016

 

 

 

 

 

1,511,611

 

 

 

 

Isle of Capri Casinos, Inc.

 

B1

 

B+

 

 

532,489

 

 

 

Term Loan, 1.984%, maturing July 25, 2014

 

 

 

 

 

497,730

857,793

 

 

 

Term Loan, 1.984%, maturing July 25, 2014

 

 

 

 

 

801,798

2,144,481

 

 

 

Term Loan, 2.033%, maturing July 25, 2014

 

 

 

 

 

2,004,493

 

 

 

 

Las Vegas Sands, LLC

 

B3

 

B-

 

 

1,580,000

 

 

 

Term Loan, 2.040%, maturing May 23, 2014

 

 

 

 

 

1,319,300

6,256,000

 

 

 

Term Loan, 2.040%, maturing May 23, 2014

 

 

 

 

 

5,223,760

 

 

 

 

New World Gaming Partners, Ltd.

 

B3

 

CCC-

 

 

746,250

 

 

 

Term Loan, 2.787%, maturing September 30, 2014

 

 

 

 

 

621,720

3,684,375

 

 

 

Term Loan, 2.787%, maturing September 30, 2014

 

 

 

 

 

3,069,545

 

 

 

 

Penn National Gaming, Inc.

 

Ba2

 

BB+

 

 

14,407

 

 

 

Term Loan, 1.996%, maturing October 03, 2012

 

 

 

 

 

13,822

 

 

 

 

Seminole Tribe of Florida

 

Baa3

 

BBB

 

 

20,151

 

 

 

Term Loan, 1.783%, maturing March 05, 2014

 

 

 

 

 

18,934

 

 

 

 

VML US Finance, LLC

 

B3

 

B-

 

 

545,193

 

 

 

Term Loan, 5.790%, maturing May 25, 2012

 

 

 

 

 

517,933

3,694,156

 

 

 

Term Loan, 5.790%, maturing May 27, 2013

 

 

 

 

 

3,509,448

 

 

 

 

 

 

 

 

 

 

33,728,645

Healthcare, Education and Childcare: 12.1%

 

 

 

 

 

 

 

 

 

 

Accellent, Inc.

 

B1

 

B+

 

 

3,362,180

 

 

 

Term Loan, 2.506%, maturing November 22, 2012

 

 

 

 

 

3,110,017

 

 

 

 

AGA Medical Corporation

 

B2

 

BB-

 

 

2,722,471

 

 

 

Term Loan, 2.280%, maturing April 26, 2013

 

 

 

 

 

2,409,387

 

 

 

 

Bausch & Lomb, Inc.

 

B1

 

BB-

 

 

383,435

 

 

 

Term Loan, 3.519%, maturing April 24, 2015

 

 

 

 

 

360,428

1,578,947

 

 

 

Term Loan, 3.533%, maturing April 24, 2015

 

 

 

 

 

1,484,211

 

 

 

 

Biomet, Inc.

 

B1

 

BB-

 

 

5,979,670

 

 

 

Term Loan, 3.282%, maturing March 25, 2015

 

 

 

 

 

5,679,538

 

 

 

 

Bright Horizons Family Solutions, Inc.

 

Ba3

 

BB-

 

 

464,706

 

 

 

Term Loan, 6.250%, maturing May 28, 2015

 

 

 

 

 

463,776

 

 

 

 

Catalent Pharma Solutions

 

Ba3

 

BB-

 

 

5,626,055

 

 

 

Term Loan, 2.484%, maturing April 10, 2014

 

 

 

 

 

4,749,330

 

 

 

 

CHG Medical Staffing, Inc.

 

Ba3

 

B+

 

 

400,000

 

 

 

Term Loan, 0.158%, maturing January 08, 2013

 

 

 

 

 

376,000

1,816,500

 

 

 

Term Loan, 2.755%, maturing January 08, 2013

 

 

 

 

 

1,707,510

 

 

 

 

CHS/Community Health Systems, Inc.

 

Ba3

 

BB

 

 

9,834,172

 

 

 

Term Loan, 2.506%, maturing July 25, 2014

 

 

 

 

 

9,012,605

477,091

 

 

 

Term Loan, 2.506%, maturing July 25, 2014

 

 

 

 

 

437,234

 

 

 

 

Concentra Operating Corporation

 

Ba3

 

B+

 

 

2,737,000

 

 

 

Term Loan, 2.540%, maturing June 25, 2014

 

 

 

 

 

2,545,410

 

 

 

 

CRC Health Corporation

 

Ba3

 

BB-

 

 

587,360

 

 

 

Term Loan, 2.533%, maturing February 06, 2013

 

 

 

 

 

527,156

665,223

 

 

 

Term Loan, 2.533%, maturing February 06, 2013

 

 

 

 

 

597,038

 

 

 

 

Education Management Corporation

 

B1

 

BB-

 

 

3,135,571

 

 

 

Term Loan, 2.063%, maturing June 03, 2013

 

 

 

 

 

2,892,075

 

 

 

 

Emdeon Business Services, LLC

 

B1

 

BB

 

 

2,734,719

 

 

 

Term Loan, 2.290%, maturing November 16, 2013

 

 

 

 

 

2,580,891

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Healthcare, Education and Childcare (continued)

 

 

 

 

 

 

 

 

 

 

Gambro

 

NR

 

NR

 

 

$

1,670,984

 

(3)

 

Term Loan, 2.770%, maturing June 05, 2014

 

 

 

 

 

$

1,472,554

SEK

2,111,070

 

 

 

Term Loan, 2.998%, maturing June 05, 2014

 

 

 

 

 

265,972

SEK

2,146,343

 

 

 

Term Loan, 2.998%, maturing June 05, 2014

 

 

 

 

 

270,416

1,670,984

 

(3)

 

Term Loan, 3.270%, maturing June 05, 2015

 

 

 

 

 

$

1,472,554

SEK

2,146,343

 

 

 

Term Loan, 3.498%, maturing June 05, 2015

 

 

 

 

 

270,416

SEK

2,111,070

 

 

 

Term Loan, 3.498%, maturing June 05, 2015

 

 

 

 

 

265,972

 

 

 

 

Harlan Sprague Dawley, Inc.

 

B2

 

BB-

 

 

3,444,875

 

 

 

Term Loan, 2.789%, maturing July 14, 2014

 

 

 

 

 

$

3,171,438

 

 

 

 

Harrington Holdings, Inc.

 

B1

 

BB-

 

 

2,593,333

 

 

 

Term Loan, 2.484%, maturing December 28, 2013

 

 

 

 

 

2,376,142

 

 

 

 

HCA, Inc.

 

Ba3

 

BB

 

 

11,363,039

 

 

 

Term Loan, 2.533%, maturing November 18, 2013

 

 

 

 

 

10,579,705

 

 

 

 

Health Management Associates, Inc.

 

B1

 

BB-

 

 

3,476,555

 

 

 

Term Loan, 2.033%, maturing February 28, 2014

 

 

 

 

 

3,169,314

 

 

 

 

Iasis Healthcare, LLC

 

Ba2

 

B+

 

 

1,001,337

 

 

 

Term Loan, 2.234%, maturing March 14, 2014

 

 

 

 

 

928,740

2,893,485

 

 

 

Term Loan, 2.234%, maturing March 14, 2014

 

 

 

 

 

2,683,707

270,403

 

 

 

Term Loan, 2.235%, maturing March 14, 2014

 

 

 

 

 

250,799

 

 

 

 

IM US Holdings, LLC

 

Ba2

 

BB

 

 

3,912,778

 

 

 

Term Loan, 2.258%, maturing June 26, 2014

 

 

 

 

 

3,609,538

 

 

 

 

Life Technologies Corporation

 

Baa3

 

BBB-

 

 

1,386,875

 

 

 

Term Loan, 5.250%, maturing November 20, 2015

 

 

 

 

 

1,388,019

 

 

 

 

Molnlycke Health Care Group

 

NR

 

NR

 

 

EUR

200,000

 

(3)

 

Term Loan, maturing March 30, 2015

 

 

 

 

 

280,154

GBP

250,000

 

(3)

 

Term Loan, maturing March 31, 2015

 

 

 

 

 

378,872

EUR

200,000

 

(3)

 

Term Loan, maturing March 30, 2016

 

 

 

 

 

280,154

GBP

250,000

 

(3)

 

Term Loan, maturing March 31, 2016

 

 

 

 

 

378,872

 

 

 

 

Multiplan, Inc.

 

B1

 

B+

 

 

1,637,060

 

 

 

Term Loan, 2.750%, maturing April 12, 2013

 

 

 

 

 

$

1,540,473

 

 

 

 

National Mentor, Inc.

 

Ba3

 

B+

 

 

126,588

 

 

 

Term Loan, 2.096%, maturing June 29, 2013

 

 

 

 

 

113,297

3,070,775

 

 

 

Term Loan, 2.290%, maturing June 29, 2013

 

 

 

 

 

2,748,344

 

 

 

 

Nycomed

 

NR

 

NR

 

 

EUR

54,917

 

 

 

Term Loan, 2.930%, maturing December 29, 2014

 

 

 

 

 

76,688

EUR

388,312

 

 

 

Term Loan, 2.930%, maturing December 29, 2014

 

 

 

 

 

542,248

EUR

1,397,300

 

 

 

Term Loan, 2.930%, maturing December 29, 2014

 

 

 

 

 

1,951,221

EUR

86,211

 

 

 

Term Loan, 2.930%, maturing December 29, 2014

 

 

 

 

 

120,388

EUR

535,383

 

 

 

Term Loan, 2.930%, maturing December 29, 2014

 

 

 

 

 

747,621

EUR

1,397,300

 

 

 

Term Loan, 3.680%, maturing December 29, 2015

 

 

 

 

 

1,951,221

EUR

86,211

 

 

 

Term Loan, 3.680%, maturing December 29, 2015

 

 

 

 

 

120,388

EUR

54,917

 

 

 

Term Loan, 3.680%, maturing December 29, 2015

 

 

 

 

 

76,688

EUR

388,312

 

 

 

Term Loan, 3.680%, maturing December 29, 2015

 

 

 

 

 

542,248

EUR

535,383

 

 

 

Term Loan, 3.680%, maturing December 29, 2015

 

 

 

 

 

747,621

 

 

 

 

Orthofix International / Colgate Medical

 

B1

 

BB+

 

 

1,534,697

 

 

 

Term Loan, 6.750%, maturing September 22, 2013

 

 

 

 

 

$

1,521,268

 

 

 

 

Quintiles Transnational Corporation

 

B1

 

BB

 

 

1,205,811

 

 

 

Term Loan, 2.283%, maturing March 31, 2013

 

 

 

 

 

1,135,723

 

 

 

 

Renal Advantage, Inc.

 

B1

 

B+

 

 

4,169,236

 

 

 

Term Loan, 2.788%, maturing October 05, 2012

 

 

 

 

 

3,960,774

 

 

 

 

Sterigenics International, Inc.

 

B3

 

B+

 

 

1,344,351

 

 

 

Term Loan, 2.554%, maturing November 21, 2013

 

 

 

 

 

1,263,690

 

 

 

 

Sun Healthcare Group, Inc.

 

Ba2

 

B+

 

 

305,747

 

 

 

Term Loan, 2.283%, maturing April 21, 2014

 

 

 

 

 

289,313

1,308,757

 

 

 

Term Loan, 2.398%, maturing April 21, 2014

 

 

 

 

 

1,238,411

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Healthcare, Education and Childcare (continued)

 

 

 

 

 

 

 

 

 

 

Surgical Care Affiliates, LLC

 

Ba3

 

B

 

 

$

1,937,589

 

 

 

Term Loan, 2.301%, maturing December 29, 2014

 

 

 

 

 

$

1,769,261

 

 

 

 

Team Health, Inc.

 

B1

 

BB-

 

 

2,674,517

 

 

 

Term Loan, 2.271%, maturing November 23, 2012

 

 

 

 

 

2,493,987

 

 

 

 

United Surgical Partners International, Inc.

 

Ba3

 

B

 

 

2,044,355

 

 

 

Term Loan, 2.264%, maturing April 19, 2014

 

 

 

 

 

1,850,141

386,195

 

 

 

Term Loan, 2.240%, maturing April 21, 2014

 

 

 

 

 

349,506

 

 

 

 

VWR International, Inc.

 

B1

 

B+

 

 

EUR

2,493,750

 

 

 

Term Loan, 2.936%, maturing June 29, 2014

 

 

 

 

 

3,336,614

2,493,750

 

 

 

Term Loan, 2.734%, maturing June 30, 2014

 

 

 

 

 

2,217,879

 

 

 

 

Warner Chilcott Company, LLC

 

B1

 

BB+

 

 

1,168,907

 

(3)

 

Term Loan, maturing October 30, 2014

 

 

 

 

 

$

1,167,260

584,454

 

(3)

 

Term Loan, maturing April 30, 2015

 

 

 

 

 

583,721

1,285,798

 

(3)

 

Term Loan, maturing April 30, 2015

 

 

 

 

 

1,284,187

 

 

 

 

 

 

 

 

 

 

108,166,125

Home & Office Furnishings: 1.0%

 

 

 

 

 

 

 

 

 

 

Global Garden Products Italy, S.P.A.

 

NR

 

NR

 

 

EUR

1,250,000

 

(2)

 

Term Loan, 3.023%, maturing October 19, 2014

 

 

 

 

 

1,260,222

EUR

1,250,000

 

(2)

 

Term Loan, 3.523%, maturing October 19, 2015

 

 

 

 

 

1,260,222

 

 

 

 

Hilding Anders

 

NR

 

NR

 

 

SEK

20,194,780

 

 

 

Term Loan, 3.605%, maturing March 31, 2015

 

 

 

 

 

1,987,338

EUR

367,247

 

 

 

Term Loan, 3.759%, maturing April 25, 2015

 

 

 

 

 

410,165

 

 

 

 

National Bedding Company

 

B1

 

BB-

 

 

2,086,160

 

 

 

Term Loan, 2.279%, maturing February 28, 2013

 

 

 

 

 

$

1,893,191

 

 

 

 

Springs Window Fashions, LLC

 

B2

 

B+

 

 

2,301,429

 

 

 

Term Loan, 3.063%, maturing December 31, 2012

 

 

 

 

 

2,059,779

 

 

 

 

 

 

 

 

 

 

8,870,917

Insurance: 2.1%

 

 

 

 

 

 

 

 

 

 

AmWINS Group, Inc.

 

B2

 

B-

 

 

2,443,750

 

 

 

Term Loan, 2.773%, maturing June 08, 2013

 

 

 

 

 

2,013,039

 

 

 

 

Applied Systems, Inc.

 

B1

 

B-

 

 

1,200,004

 

 

 

Term Loan, 2.734%, maturing September 26, 2013

 

 

 

 

 

1,140,754

 

 

 

 

Conseco, Inc.

 

Caa1

 

CCC

 

 

6,010,700

 

 

 

Term Loan, 6.500%, maturing October 10, 2013

 

 

 

 

 

5,529,844

 

 

 

 

Crump Group

 

B2

 

B

 

 

1,913,237

 

 

 

Term Loan, 3.240%, maturing August 01, 2014

 

 

 

 

 

1,712,347

 

 

 

 

Hub International, Ltd.

 

B2

 

B

 

 

539,599

 

 

 

Term Loan, 2.734%, maturing June 13, 2014

 

 

 

 

 

471,700

2,400,635

 

 

 

Term Loan, 2.734%, maturing June 13, 2014

 

 

 

 

 

2,098,556

 

 

 

 

Swett & Crawford

 

B3

 

B-

 

 

3,080,842

 

 

 

Term Loan, 2.531%, maturing April 03, 2014

 

 

 

 

 

2,618,716

 

 

 

 

USI Holdings Corporation

 

B2

 

B-

 

 

600,000

 

 

 

Term Loan, 5.300%, maturing April 15, 2014

 

 

 

 

 

582,375

2,694,312

 

 

 

Term Loan, 3.040%, maturing May 05, 2014

 

 

 

 

 

2,332,824

 

 

 

 

 

 

 

 

 

 

18,500,155

Leisure, Amusement, Entertainment: 4.2%

 

 

 

 

 

 

 

 

 

 

24 Hour Fitness Worldwide, Inc.

 

Ba3

 

B+

 

 

4,101,250

 

 

 

Term Loan, 2.766%, maturing June 08, 2012

 

 

 

 

 

3,841,506

 

 

 

 

Alpha D2, Ltd.

 

NR

 

NR

 

 

1,017,315

 

 

 

Term Loan, 2.359%, maturing December 31, 2013

 

 

 

 

 

899,306

1,506,081

 

 

 

Term Loan, 2.359%, maturing December 31, 2013

 

 

 

 

 

1,331,375

 

 

 

 

AMF Bowling Worldwide, Inc.

 

B1

 

B

 

 

2,904,279

 

 

 

Term Loan, 2.741%, maturing June 08, 2013

 

 

 

 

 

2,483,158

 


 


 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Leisure, Amusement, Entertainment (continued)

 

 

 

 

 

 

 

 

 

 

Cedar Fair, L.P.

 

Ba3

 

BB-

 

 

$

2,649,115

 

 

 

Term Loan, 4.234%, maturing August 30, 2014

 

 

 

 

 

$

2,527,255

 

 

 

 

HIT Entertainment, Inc.

 

B1

 

B-

 

 

3,404,852

 

 

 

Term Loan, 2.528%, maturing March 20, 2012

 

 

 

 

 

2,936,685

 

 

 

 

Kerasotes Showplace Theater, LLC

 

B1

 

B-

 

 

150,000

 

 

 

Revolver, 1.719%, maturing October 31, 2010

 

 

 

 

 

146,250

373,093

 

 

 

Term Loan, 4.813%, maturing October 28, 2011

 

 

 

 

 

354,439

 

 

 

 

Metro-Goldwyn-Mayer, Inc.

 

Ba3

 

B+

 

 

18,837,976

 

(2)

 

Term Loan, 0.000%, maturing April 08, 2012

 

 

 

 

 

11,946,423

11,784,827

 

(2)

 

Term Loan, 0.000%, maturing April 08, 2012

 

 

 

 

 

7,473,548

 

 

 

 

NEP II, Inc.

 

B1

 

B

 

 

4,384,993

 

 

 

Term Loan, 2.533%, maturing February 16, 2014

 

 

 

 

 

4,045,156

 

 

 

 

 

 

 

 

 

 

37,985,101

Lodging: 2.0%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Audio Visual Services Corporation

 

NR

 

NR

 

 

1,470,000

 

 

 

Term Loan, 2.540%, maturing February 28, 2014

 

 

 

 

 

1,036,350

 

 

 

 

Hotel Del Coronado

 

B1

 

B+

 

 

24,600,000

 

 

 

Term Loan, 1.989%, maturing January 15, 2011

 

 

 

 

 

16,728,000

 

 

 

 

 

 

 

 

 

 

17,764,350

Machinery: 0.5%

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Kion Group

 

NR

 

NR

 

 

EUR

1,238,909

 

 

 

Term Loan, 4.188%, maturing December 23, 2014

 

 

 

 

 

1,265,756

500,000

 

(3)

 

Term Loan, maturing December 23, 2014

 

 

 

 

 

$

340,750

EUR

1,145,833

 

 

 

Term Loan, 4.438%, maturing December 23, 2015

 

 

 

 

 

1,170,664

500,000

 

(3)

 

Term Loan, maturing December 23, 2015

 

 

 

 

 

$

340,750

 

 

 

 

NACCO Materials Handling Group, Inc.

 

NR

 

NR

 

 

1,967,500

 

 

 

Term Loan, 2.352%, maturing March 22, 2013

 

 

 

 

 

1,574,000

 

 

 

 

 

 

 

 

 

 

4,691,920

Mining, Steel, Iron & Nonprecious Metals: 1.2%

 

 

 

 

 

 

 

 

 

 

Continental Alloys & Services, Inc.

 

Caa2

 

CCC

 

 

464,442

 

 

 

Term Loan, 4.743%, maturing June 14, 2012

 

 

 

 

 

399,420

 

 

 

 

Noranda Aluminum Acquisition Corporation

 

B2

 

D

 

 

2,774,795

 

 

 

Term Loan, 2.236%, maturing May 18, 2014

 

 

 

 

 

2,247,584

 

 

 

 

Novelis

 

Ba3

 

BB-

 

 

1,527,344

 

 

 

Term Loan, 2.240%, maturing July 06, 2014

 

 

 

 

 

1,366,496

3,360,254

 

 

 

Term Loan, 2.263%, maturing July 06, 2014

 

 

 

 

 

3,006,379

 

 

 

 

Oxbow Carbon and Minerals Holdings, LLC

 

B1

 

BB-

 

 

3,432,816

 

 

 

Term Loan, 2.262%, maturing May 08, 2014

 

 

 

 

 

3,231,138

333,231

 

 

 

Term Loan, 2.283%, maturing May 08, 2014

 

 

 

 

 

313,653

 

 

 

 

 

 

 

 

 

 

10,564,670

North American Cable: 7.4%

 

 

 

 

 

 

 

 

 

 

Block Communications, Inc.

 

Ba1

 

BB

 

 

1,203,125

 

 

 

Term Loan, 2.283%, maturing December 22, 2011

 

 

 

 

 

1,124,922

 

 

 

 

Bresnan Communications, LLC

 

B1

 

BB-

 

 

4,726,250

 

 

 

Term Loan, 2.286%, maturing March 29, 2014

 

 

 

 

 

4,426,922

 

 

 

 

Cequel Communications, LLC

 

Ba3

 

BB-

 

 

22,970,884

 

 

 

Term Loan, 2.261%, maturing November 05, 2013

 

 

 

 

 

21,295,916

 

 

 

 

Cequel Communications, LLC

 

B3

 

B-

 

 

1,975,000

 

 

 

Term Loan, 4.757%, maturing May 05, 2014

 

 

 

 

 

1,893,531

 

 

(1)

 

Charter Communications Operating, LLC

 

Ba2

 

D

 

 

10,388,060

 

 

 

Term Loan, 4.260%, maturing March 06, 2014

 

 

 

 

 

9,639,257

 

 

 

 

CSC Holdings, Inc.

 

Baa3

 

BBB-

 

 

2,036,107

 

 

 

Term Loan, 2.049%, maturing March 29, 2013

 

 

 

 

 

1,922,708

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

North American Cable (continued)

 

 

 

 

 

 

 

 

 

 

Insight Midwest Holdings, LLC

 

B1

 

B+

 

 

$

1,162,500

 

 

 

Term Loan, 2.290%, maturing April 07, 2014

 

 

 

 

 

$

1,091,712

 

 

 

 

Knology, Inc.

 

B1

 

B

 

 

2,889,555

 

 

 

Term Loan, 3.783%, maturing June 30, 2014

 

 

 

 

 

2,773,973

 

 

 

 

Mediacom Broadband, LLC

 

Ba3

 

BB-

 

 

5,890,336

 

 

 

Term Loan, 1.980%, maturing January 31, 2015

 

 

 

 

 

5,341,798

 

 

 

 

Mediacom LLC Group

 

Ba3

 

BB-

 

 

6,338,285

 

 

 

Term Loan, 1.730%, maturing January 31, 2015

 

 

 

 

 

5,741,428

1,800,000

 

 

 

Term Loan, 5.500%, maturing March 31, 2017

 

 

 

 

 

1,801,125

 

 

 

 

San Juan Cable, LLC

 

B1

 

BB-

 

 

3,852,549

 

 

 

Term Loan, 2.040%, maturing October 31, 2012

 

 

 

 

 

3,616,580

 

 

 

 

Wideopenwest Finance, LLC

 

B1

 

B-

 

 

5,804,167

 

 

 

Term Loan, 2.768%, maturing June 18, 2014

 

 

 

 

 

5,332,578

 

 

 

 

 

 

 

 

 

 

66,002,450

Oil & Gas: 1.6%

 

 

 

 

 

 

 

 

 

 

Alon USA

 

B1

 

BB

 

 

215,000

 

 

 

Term Loan, 2.484%, maturing June 22, 2013

 

 

 

 

 

181,675

1,720,000

 

 

 

Term Loan, 2.490%, maturing June 22, 2013

 

 

 

 

 

1,453,400

 

 

 

 

CGGVeritas Services, Inc.

 

Ba1

 

BB+

 

 

1,619,095

 

 

 

Term Loan, 3.708%, maturing January 12, 2014

 

 

 

 

 

1,591,773

 

 

 

 

CR Gas Storage

 

Ba3

 

BB

 

 

137,359

 

 

 

Term Loan, 1.987%, maturing May 12, 2013

 

 

 

 

 

128,774

1,953,628

 

 

 

Term Loan, 1.989%, maturing May 12, 2013

 

 

 

 

 

1,831,526

202,776

 

 

 

Term Loan, 1.989%, maturing May 12, 2013

 

 

 

 

 

190,103

 

 

 

 

Hercules Offshore, LLC

 

B2

 

B

 

 

2,189,845

 

 

 

Term Loan, 8.500%, maturing July 11, 2013

 

 

 

 

 

2,104,076

 

 

 

 

MEG Energy

 

B1

 

BB+

 

 

3,127,283

 

 

 

Term Loan, 2.290%, maturing April 03, 2013

 

 

 

 

 

2,873,191

3,067,678

 

 

 

Term Loan, 2.290%, maturing April 03, 2013

 

 

 

 

 

2,818,429

 

 

 

 

Targa Resources, Inc.

 

Ba3

 

BB-

 

 

124,019

 

 

 

Term Loan, 2.234%, maturing October 31, 2012

 

 

 

 

 

120,940

396,257

 

 

 

Term Loan, 2.283%, maturing October 31, 2012

 

 

 

 

 

386,421

 

 

 

 

Vulcan Energy Corporation

 

Ba2

 

BB

 

 

750,000

 

 

 

Term Loan, 5.500%, maturing September 29, 2015

 

 

 

 

 

755,625

 

 

 

 

 

 

 

 

 

 

14,435,933

Other Broadcasting and Entertainment: 0.9%

 

 

 

 

 

 

 

 

 

 

Deluxe Entertainment Services Group, Inc.

 

Ba3

 

B-

 

 

153,334

 

 

 

Term Loan, 2.533%, maturing May 11, 2013

 

 

 

 

 

142,121

88,290

 

 

 

Term Loan, 2.633%, maturing May 11, 2013

 

 

 

 

 

81,834

1,488,866

 

 

 

Term Loan, 5.490%, maturing May 11, 2013

 

 

 

 

 

1,379,993

 

 

 

 

VNU

 

Ba3

 

B+

 

 

2,765,384

 

 

 

Term Loan, 2.242%, maturing August 09, 2013

 

 

 

 

 

2,499,711

4,674,486

 

 

 

Term Loan, 3.992%, maturing May 02, 2016

 

 

 

 

 

4,294,684

 

 

 

 

 

 

 

 

 

 

8,398,343

Other Telecommunications: 1.9%

 

 

 

 

 

 

 

 

 

 

Asurion Corporation

 

B1

 

B

 

 

4,250,000

 

 

 

Term Loan, 3.246%, maturing July 03, 2014

 

 

 

 

 

4,008,094

 

 

 

 

BCM Ireland Holdings, Ltd.

 

Ba3

 

BB-

 

 

EUR

1,312,967

 

 

 

Term Loan, 2.313%, maturing September 30, 2014

 

 

 

 

 

1,811,625

EUR

1,313,237

 

 

 

Term Loan, 2.563%, maturing September 30, 2015

 

 

 

 

 

1,811,997

 

 

 

 

Consolidated Communications

 

B1

 

B+

 

 

1,000,000

 

 

 

Term Loan, 2.740%, maturing December 31, 2014

 

 

 

 

 

$

925,000

 

 

 

 

Gabriel Communications

 

B2

 

B-

 

 

333,333

 

 

 

Term Loan, 3.500%, maturing May 31, 2014

 

 

 

 

 

330,833

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Other Telecommunications (continued)

 

 

 

 

 

 

 

 

(1)

 

Hawaiian Telcom Communications, Inc.

 

NR

 

NR

 

 

$

2,862,555

 

 

 

Term Loan, 4.750%, maturing June 01, 2014

 

 

 

 

 

$

2,071,775

 

 

 

 

Kentucky Data Link, Inc.

 

B1

 

B-

 

 

2,916,762

 

 

 

Term Loan, 2.484%, maturing February 26, 2014

 

 

 

 

 

2,705,297

 

 

 

 

One Communications

 

B2

 

B-

 

 

1,536,345

 

 

 

Term Loan, 4.585%, maturing June 30, 2012

 

 

 

 

 

1,367,347

 

 

 

 

Time Warner Telecom Holdings, Inc.

 

Ba1

 

B+

 

 

565

 

 

 

Term Loan, 2.006%, maturing January 07, 2013

 

 

 

 

 

536

 

 

 

 

U.S. Telepacific Corporation

 

B1

 

CCC

 

 

2,022,464

 

(3)

 

Term Loan, 4.303%, maturing August 04, 2011

 

 

 

 

 

1,789,881

 

 

 

 

 

 

 

 

 

 

16,822,385

Personal & Nondurable Consumer Products: 2.1%

 

 

 

 

 

 

 

 

 

 

Advantage Sales and Marketing

 

B1

 

B

 

 

3,522,151

 

 

 

Term Loan, 2.290%, maturing March 29, 2013

 

 

 

 

 

3,284,406

 

 

 

 

Bushnell Performance Optics

 

Ba3

 

B-

 

 

1,690,355

 

 

 

Term Loan, 4.533%, maturing August 24, 2013

 

 

 

 

 

1,470,609

 

 

 

 

Fender Musical Instruments Corporation

 

B2

 

B+

 

 

1,152,083

 

 

 

Term Loan, 2.540%, maturing June 09, 2014

 

 

 

 

 

985,031

2,280,833

 

 

 

Term Loan, 2.540%, maturing June 09, 2014

 

 

 

 

 

1,950,113

 

 

 

 

Huish Detergents, Inc.

 

Ba2

 

BB

 

 

2,235,877

 

 

 

Term Loan, 1.990%, maturing April 26, 2014

 

 

 

 

 

2,134,330

 

 

 

 

Information Resources, Inc.

 

B1

 

B-

 

 

340,173

 

 

 

Term Loan, 2.008%, maturing May 16, 2014

 

 

 

 

 

311,258

 

 

 

 

Jarden Corporation

 

Ba2

 

BB

 

 

1,015,027

 

 

 

Term Loan, 2.033%, maturing January 24, 2012

 

 

 

 

 

972,099

248,851

 

 

 

Term Loan, 2.033%, maturing January 24, 2012

 

 

 

 

 

239,104

1,438,968

 

 

 

Term Loan, 3.533%, maturing January 26, 2015

 

 

 

 

 

1,419,182

 

 

 

 

KIK Custom Products, Inc.

 

B3

 

CCC+

 

 

71,707

 

 

 

Term Loan, 2.540%, maturing June 02, 2014

 

 

 

 

 

57,724

1,918,293

 

(3)

 

Term Loan, 2.540%, maturing June 02, 2014

 

 

 

 

 

1,544,226

 

 

 

 

Mega Bloks, Inc.

 

Caa3

 

C

 

 

957,500

 

 

 

Term Loan, 9.750%, maturing July 26, 2012

 

 

 

 

 

493,112

 

 

 

 

Spectrum Brands, Inc.

 

B3

 

B-

 

 

56,383

 

 

 

Term Loan, 8.000%, maturing June 29, 2012

 

 

 

 

 

54,798

1,108,903

 

 

 

Term Loan, 8.019%, maturing June 29, 2012

 

 

 

 

 

1,077,715

 

 

 

 

Yankee Candle Company, Inc.

 

Ba3

 

BB-

 

 

3,425,164

 

 

 

Term Loan, 2.240%, maturing February 06, 2014

 

 

 

 

 

3,170,723

 

 

 

 

 

 

 

 

 

 

19,164,430

Personal, Food & Miscellaneous: 2.0%

 

 

 

 

 

 

 

 

 

 

Acosta, Inc.

 

B1

 

B

 

 

3,384,142

 

 

 

Term Loan, 2.490%, maturing July 28, 2013

 

 

 

 

 

3,113,410

 

 

 

 

Arbys Restaurant Group, Inc.

 

Ba2

 

BB

 

 

2,402,376

 

 

 

Term Loan, 7.250%, maturing July 25, 2012

 

 

 

 

 

2,410,383

 

 

 

 

Culligan International Company

 

B2

 

B-

 

 

1,462,500

 

 

 

Term Loan, 2.490%, maturing November 24, 2012

 

 

 

 

 

1,151,719

 

 

 

 

N.E.W. Customer Services Companies, Inc.

 

B1

 

B+

 

 

4,486,868

 

 

 

Term Loan, 2.740%, maturing May 22, 2014

 

 

 

 

 

4,175,592

 

 

 

 

NPC International

 

Ba3

 

B+

 

 

1,105,946

 

 

 

Term Loan, 2.024%, maturing May 03, 2013

 

 

 

 

 

1,040,971

 

 

 

 

OSI Restaurant Partners, Inc.

 

B3

 

B+

 

 

511,156

 

 

 

Term Loan, 2.553%, maturing June 14, 2013

 

 

 

 

 

416,805

5,707,276

 

 

 

Term Loan, 2.563%, maturing June 14, 2014

 

 

 

 

 

4,653,810

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Personal, Food & Miscellaneous (continued)

 

 

 

 

 

 

 

 

 

 

Seminole Hard Rock Entertainment

 

B1

 

BB

 

 

$

1,000,000

 

 

 

Floating Rate Note, maturing March 15, 2014

 

 

 

 

 

$

810,000

 

 

 

 

 

 

 

 

 

 

17,772,690

Printing & Publishing: 10.1%

 

 

 

 

 

 

 

 

 

 

American Achievement Corporation

 

B1

 

B+

 

 

590,365

 

 

 

Term Loan, 6.255%, maturing March 25, 2011

 

 

 

 

 

531,328

 

 

 

 

Ascend Media Holdings, LLC

 

B3

 

B

 

 

889,527

 

(2)

 

Term Loan, 10.250%, maturing January 31, 2012

 

 

 

 

 

 

 

 

 

Black Press, Ltd.

 

B1

 

B-

 

 

850,141

 

(3)

 

Term Loan, 2.256%, maturing August 02, 2013

 

 

 

 

 

556,842

1,400,232

 

(3)

 

Term Loan, 2.256%, maturing August 02, 2013

 

 

 

 

 

917,152

 

 

 

 

Canwest Limited Partnership

 

Caa3

 

D

 

 

1,236,875

 

(3)

 

Term Loan, 0.000%, maturing July 13, 2014

 

 

 

 

 

991,046

 

 

 

 

Caribe Information Investments, Inc.

 

B2

 

CCC+

 

 

2,724,496

 

 

 

Term Loan, 2.524%, maturing March 31, 2013

 

 

 

 

 

1,866,280

 

 

 

 

Cengage Learning, Inc.

 

B2

 

B+

 

 

6,778,476

 

 

 

Term Loan, 2.730%, maturing July 03, 2014

 

 

 

 

 

5,808,307

 

 

 

 

Cenveo Corporation

 

Ba3

 

BB-

 

 

2,752,301

 

 

 

Term Loan, 4.792%, maturing June 21, 2013

 

 

 

 

 

2,659,411

45,117

 

 

 

Term Loan, 4.792%, maturing June 21, 2013

 

 

 

 

 

43,594

 

 

(1)

 

Dex Media East, LLC

 

NR

 

D

 

 

2,994,962

 

(3)

 

Term Loan, 2.240%, maturing October 24, 2014

 

 

 

 

 

2,418,432

 

 

(1)

 

Dex Media West, LLC

 

NR

 

D

 

 

4,943,643

 

 

 

Term Loan, 7.000%, maturing October 24, 2014

 

 

 

 

 

4,461,638

 

 

 

 

Flint Group

 

NR

 

NR

 

 

841,151

 

 

 

Term Loan, 2.889%, maturing December 31, 2014

 

 

 

 

 

771,056

353,279

 

 

 

Term Loan, 2.889%, maturing December 31, 2014

 

 

 

 

 

323,839

2,333,333

 

 

 

Term Loan, 2.889%, maturing May 29, 2015

 

 

 

 

 

2,138,890

EUR

666,667

 

 

 

Term Loan, 3.270%, maturing May 29, 2015

 

 

 

 

 

910,316

1,277,104

 

 

 

Term Loan, 2.889%, maturing December 31, 2015

 

 

 

 

 

$

1,170,679

 

 

 

 

Hanley Wood, LLC

 

Caa1

 

B-

 

 

2,681,572

 

 

 

Term Loan, 2.532%, maturing March 08, 2014

 

 

 

 

 

1,157,267

 

 

(1)

 

Idearc, Inc.

 

NR

 

D

 

 

27,106,877

 

(2)

 

Term Loan, 6.250%, maturing November 17, 2014

 

 

 

 

 

13,161,365

 

 

 

 

Intermedia Outdoor, Inc.

 

NR

 

NR

 

 

1,945,000

 

 

 

Term Loan, 3.283%, maturing January 31, 2013

 

 

 

 

 

1,556,000

 

 

 

 

Mediannuaire Holding

 

NR

 

NR

 

 

EUR

 1,771,848

 

(3)

 

Term Loan, 3.028%, maturing October 10, 2014

 

 

 

 

 

1,902,181

EUR

 1,771,635

 

(3)

 

Term Loan, 3.528%, maturing October 09, 2015

 

 

 

 

 

1,901,951

 

 

 

 

Merrill Communications, LLC

 

B1

 

CCC

 

 

5,527,710

 

 

 

Term Loan, 2.262%, maturing December 24, 2012

 

 

 

 

 

$

4,415,258

 

 

 

 

Nelson Canada

 

Ba3

 

B

 

 

4,900,000

 

 

 

Term Loan, 2.783%, maturing July 05, 2014

 

 

 

 

 

4,312,000

 

 

 

 

PagesJaunes Groupe, S.A.

 

NR

 

NR

 

 

EUR

1,100,000

 

 

 

Term Loan, 1.933%, maturing November 22, 2013

 

 

 

 

 

1,464,654

 

 

 

 

PBL Media

 

B1

 

B

 

 

AUD

24,331,191

 

 

 

Term Loan, 6.367%, maturing February 05, 2013

 

 

 

 

 

18,186,110

 

 

 

 

Prism Business Media Holdings / Penton Media, Inc.

 

Caa1

 

CCC

 

 

2,145,000

 

 

 

Term Loan, 2.539%, maturing February 01, 2013

 

 

 

 

 

$

1,431,788

 

 

(1)

 

R.H. Donnelley Corporation

 

NR

 

D

 

 

2,465,804

 

 

 

Term Loan, 6.750%, maturing June 30, 2011

 

 

 

 

 

2,229,499

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Printing & Publishing (continued)

 

 

 

 

 

 

$

2,529,270

 

 

 

Term Loan, 6.750%, maturing June 30, 2011

 

 

 

 

 

$

2,274,763

 

 

(1)

 

Readers Digest

 

Ba1

 

B-

 

 

600,000

 

 

 

Debtor In Possession Term Loan, 13.5000%, maturing May 26, 2010

 

 

 

 

 

625,000

 

 

(1)

 

Readers Digest

 

NR

 

D

 

 

924,663

 

(2)

 

Revolver, 4.535%, maturing March 02, 2013

 

 

 

 

 

443,838

332,460

 

(2)

 

Term Loan, 7.000%, maturing March 03, 2014

 

 

 

 

 

159,581

3,723,751

 

(2)

 

Term Loan, 4.241%, maturing March 03, 2014

 

 

 

 

 

1,787,400

 

 

 

 

Source Media, Inc.

 

B2

 

B

 

 

3,453,293

 

 

 

Term Loan, 5.290%, maturing November 08, 2011

 

 

 

 

 

2,900,767

 

 

 

 

Thomas Nelson Publishers

 

B1

 

B

 

 

1,837,776

 

 

 

Term Loan, 8.750%, maturing June 12, 2012

 

 

 

 

 

1,479,410

 

 

(1)

 

Tribune Company

 

NR

 

NR

 

 

1,491,225

 

(2)

 

Term Loan, 5.250%, maturing June 04, 2014

 

 

 

 

 

772,951

 

 

 

 

Valassis Communications, Inc.

 

Ba2

 

BB-

 

 

494,631

 

(3)

 

Term Loan, maturing March 02, 2014

 

 

 

 

 

467,426

505,369

 

(3)

 

Term Loan, maturing March 02, 2014

 

 

 

 

 

477,574

 

 

 

 

Yell Group, PLC

 

NR

 

NR

 

 

2,000,000

 

 

 

Term Loan, 3.283%, maturing October 26, 2012

 

 

 

 

 

1,610,714

 

 

 

 

 

 

 

 

 

 

90,286,307

Radio and TV Broadcasting: 6.5%

 

 

 

 

 

 

 

 

 

 

Citadel Broadcasting Corporation

 

Caa3

 

CCC-

 

 

8,302,037

 

 

 

Term Loan, 2.040%, maturing June 12, 2014

 

 

 

 

 

5,718,028

 

 

 

 

CMP KC, LLC

 

NR

 

NR

 

 

2,007,994

 

 

 

Term Loan, 6.250%, maturing May 03, 2011

 

 

 

 

 

250,999

 

 

 

 

CMP Susquehanna Corporation

 

Caa3

 

CCC+

 

 

8,888,401

 

 

 

Term Loan, 2.250%, maturing May 05, 2013

 

 

 

 

 

6,524,086

 

 

 

 

Cumulus Media, Inc.

 

Caa1

 

B

 

 

4,762,750

 

 

 

Term Loan, 4.237%, maturing June 11, 2014

 

 

 

 

 

3,923,315

 

 

 

 

Emmis Communication

 

Caa2

 

NR

 

 

1,148,060

 

 

 

Term Loan, 4.283%, maturing November 01, 2013

 

 

 

 

 

881,136

 

 

 

 

FoxCo Acquisition, LLC

 

B2

 

B

 

 

1,116,751

 

 

 

Term Loan, 7.250%, maturing July 14, 2015

 

 

 

 

 

1,035,786

 

 

(1)

 

ION Media Networks, Inc.

 

NR

 

NR

 

 

575,599

 

 

 

Debtor In Possession Term Loan, 10.167%, maturing May 29, 2010

 

 

 

 

 

840,375

6,500,000

 

(2)

 

Term Loan, 6.381%, maturing January 15, 2012

 

 

 

 

 

1,760,415

 

 

 

 

Local TV Finance, LLC

 

B3

 

B-

 

 

3,323,500

 

 

 

Term Loan, 2.240%, maturing May 07, 2013

 

 

 

 

 

2,737,733

 

 

 

 

Nexstar Broadcasting Group

 

B1

 

B

 

 

3,644,990

 

 

 

Term Loan, 5.000%, maturing October 01, 2012

 

 

 

 

 

3,335,166

3,446,595

 

 

 

Term Loan, 5.004%, maturing October 01, 2012

 

 

 

 

 

3,153,634

 

 

 

 

Regent Communications

 

Caa1

 

CCC

 

 

3,758,229

 

 

 

Term Loan, 6.000%, maturing November 21, 2013

 

 

 

 

 

2,865,650

 

 

 

 

Sinclair Television Group, Inc.

 

Ba2

 

B

 

 

1,400,000

 

 

 

Term Loan, 6.500%, maturing October 31, 2015

 

 

 

 

 

1,405,834

 

 

 

 

Spanish Broadcasting Systems

 

Caa3

 

CCC+

 

 

3,345,839

 

 

 

Term Loan, 2.040%, maturing June 11, 2012

 

 

 

 

 

2,777,046

 

 

 

 

Univision Communications, Inc.

 

B2

 

B-

 

 

25,263,682

 

 

 

Term Loan, 2.533%, maturing September 29, 2014

 

 

 

 

 

20,834,655

 

 

 

 

 

 

 

 

 

 

58,043,858

 


 


 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Retail Stores: 7.2%

 

 

 

 

 

 

 

 

 

 

Amscan Holdings, Inc.

 

B1

 

B

 

 

$

1,950,000

 

 

 

Term Loan, 2.646%, maturing May 25, 2013

 

 

 

 

 

$

1,771,250

 

 

 

 

CBR Fashion Holding

 

NR

 

NR

 

 

EUR

 750,000

 

 

 

Term Loan, 2.563%, maturing April 20, 2015

 

 

 

 

 

994,498

EUR

 669,705

 

 

 

Term Loan, 2.813%, maturing April 19, 2016

 

 

 

 

 

888,027

 

 

 

 

Claires Stores, Inc.

 

Caa2

 

B-

 

 

4,478,781

 

 

 

Term Loan, 3.033%, maturing May 29, 2014

 

 

 

 

 

$

3,517,710

 

 

 

 

Dollar General Corporation

 

Ba3

 

BB-

 

 

6,982,500

 

 

 

Term Loan, 3.008%, maturing July 07, 2014

 

 

 

 

 

6,569,660

 

 

 

 

Dollarama Group, L.P.

 

Ba1

 

BB-

 

 

2,980,203

 

 

 

Term Loan, 2.031%, maturing November 18, 2011

 

 

 

 

 

2,928,049

 

 

 

 

General Nutrition Centers, Inc.

 

B1

 

B

 

 

2,646,839

 

 

 

Term Loan, 2.529%, maturing September 16, 2013

 

 

 

 

 

2,445,018

 

 

 

 

Guitar Center, Inc.

 

B3

 

B-

 

 

5,135,000

 

 

 

Term Loan, 3.740%, maturing October 09, 2014

 

 

 

 

 

4,326,238

 

 

 

 

Harbor Freight Tools USA, Inc.

 

B1

 

B+

 

 

4,699,536

 

 

 

Term Loan, 9.750%, maturing February 12, 2013

 

 

 

 

 

4,711,285

 

 

 

 

Michaels Stores, Inc.

 

B3

 

B

 

 

1,530,014

 

 

 

Term Loan, 2.563%, maturing October 31, 2013

 

 

 

 

 

1,324,100

2,059,053

 

 

 

Term Loan, 4.813%, maturing July 31, 2016

 

 

 

 

 

1,836,418

 

 

 

 

Neiman Marcus Group, Inc.

 

B3

 

BB-

 

 

6,140,986

 

 

 

Term Loan, 2.291%, maturing April 06, 2013

 

 

 

 

 

5,255,659

 

 

 

 

Oriental Trading Company, Inc.

 

Caa1

 

CCC

 

 

1,348,323

 

 

 

Term Loan, 9.750%, maturing July 31, 2013

 

 

 

 

 

1,108,996

 

 

 

 

Petco Animal Supplies, Inc.

 

B1

 

B+

 

 

4,984,062

 

 

 

Term Loan, 2.516%, maturing October 25, 2013

 

 

 

 

 

4,703,709

 

 

 

 

Phones 4U Group, Ltd.

 

NR

 

NR

 

 

GBP

 337,877

 

 

 

Term Loan, 3.098%, maturing September 22, 2014

 

 

 

 

 

334,592

GBP

 323,150

 

 

 

Term Loan, 3.598%, maturing September 22, 2015

 

 

 

 

 

320,008

 

 

 

 

Pilot Travel Centers, LLC

 

Ba2

 

BBB-

 

 

1,100,000

 

(3)

 

Term Loan, maturing December 15, 2015

 

 

 

 

 

$

1,102,750

 

 

 

 

Rite Aid

 

B3

 

B+

 

 

5,922,468

 

 

 

Term Loan, 1.993%, maturing June 04, 2014

 

 

 

 

 

5,105,659

1,393,481

 

 

 

Term Loan, 6.000%, maturing June 04, 2014

 

 

 

 

 

1,287,809

1,500,000

 

 

 

Term Loan, 9.500%, maturing June 10, 2015

 

 

 

 

 

1,551,875

500,000

 

 

 

Term Loan, 9.500%, maturing June 10, 2015

 

 

 

 

 

517,292

 

 

 

 

Sally Holding, LLC

 

B1

 

BB

 

 

2,567,841

 

 

 

Term Loan, 2.480%, maturing November 16, 2013

 

 

 

 

 

2,430,221

 

 

 

 

Toys “R” Us, Inc.

 

B1

 

BB-

 

 

4,368,159

 

 

 

Term Loan, 4.486%, maturing July 19, 2012

 

 

 

 

 

4,224,145

 

 

 

 

Vivarte

 

NR

 

NR

 

 

EUR

 1,966,980

 

 

 

Term Loan, 2.431%, maturing March 09, 2015

 

 

 

 

 

2,374,834

EUR

 1,966,980

 

 

 

Term Loan, 2.931%, maturing March 08, 2016

 

 

 

 

 

2,374,834

 

 

 

 

 

 

 

 

 

 

64,004,636

Telecommunications Equipment: 1.2%

 

 

 

 

 

 

 

 

 

 

CommScope, Inc.

 

Ba2

 

BB

 

 

624,698

 

 

 

Term Loan, 2.782%, maturing December 26, 2014

 

 

 

 

 

$

596,586

 

 

 

 

Macquarie UK Broadcast Ventures, Ltd.

 

NR

 

NR

 

 

GBP

 5,357,312

 

 

 

Term Loan, 2.515%, maturing March 10, 2014

 

 

 

 

 

7,639,629

 

 

 

 

Sorenson Communications, Inc.

 

Ba3

 

B

 

 

2,696,708

 

 

 

Term Loan, 2.740%, maturing August 16, 2013

 

 

 

 

 

$

2,529,288

 

 

 

 

 

 

 

 

 

 

10,765,503

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

 

 

 

 

Bank Loan

 

 

 

 

 

 

 

 

Ratings†

 

 

 

 

 

 

 

 

(Unaudited)

 

 

Principal Amount

 

 

 

Borrower\Tranche Description

 

Moody’s

 

S&P

 

Market Value

Utilities: 5.6%

 

 

 

 

 

 

 

 

 

 

Boston Generating, LLC

 

Caa2

 

CCC+

 

 

$

1,062,345

 

 

 

Revolver, 2.533%, maturing December 20, 2013

 

 

 

 

 

$

748,658

5,250,800

 

 

 

Term Loan, 2.533%, maturing December 20, 2013

 

 

 

 

 

3,700,354

1,794,089

 

 

 

Term Loan, 2.723%, maturing December 20, 2013

 

 

 

 

 

1,264,334

 

 

 

 

Calpine Corporation

 

B2

 

B+

 

 

8,577,281

 

 

 

Term Loan, 3.165%, maturing March 29, 2014

 

 

 

 

 

7,854,113

 

 

 

 

Coleto Creek WLE, L.P.

 

B1

 

B+

 

 

2,399,014

 

 

 

Term Loan, 3.019%, maturing June 28, 2013

 

 

 

 

 

2,195,097

437,602

 

 

 

Term Loan, 3.033%, maturing June 28, 2013

 

 

 

 

 

400,406

 

 

 

 

FirstLight Power Resources, Inc.

 

B1

 

B+

 

 

2,635,312

 

 

 

Term Loan, 2.813%, maturing November 01, 2013

 

 

 

 

 

2,419,546

906,823

 

 

 

Term Loan, 2.813%, maturing November 01, 2013

 

 

 

 

 

832,577

 

 

 

 

FirstLight Power Resources, Inc.

 

B3

 

CCC+

 

 

610,514

 

 

 

Term Loan, 4.813%, maturing May 01, 2014

 

 

 

 

 

518,937

 

 

 

 

Infrastrux Group, Inc.

 

B2

 

B

 

 

3,992,857

 

 

 

Term Loan, 8.000%, maturing November 05, 2012

 

 

 

 

 

3,773,249

 

 

 

 

MACH Gen, LLC

 

Ba3

 

BB-

 

 

258,928

 

 

 

Term Loan, 2.283%, maturing February 22, 2013

 

 

 

 

 

239,940

 

 

 

 

NRG Energy, Inc.

 

Baa3

 

BB+

 

 

2,161,075

 

 

 

Term Loan, 2.033%, maturing February 01, 2013

 

 

 

 

 

1,988,189

 

 

 

 

Texas Competitive Electric Holdings Company, LLC

 

B1

 

B+

 

 

2,905,391

 

 

 

Term Loan, 3.742%, maturing October 10, 2014

 

 

 

 

 

2,177,227

7,170,741

 

 

 

Term Loan, 3.742%, maturing October 10, 2014

 

 

 

 

 

5,328,262

6,719,188

 

 

 

Term Loan, 3.775%, maturing October 10, 2014

 

 

 

 

 

5,030,992

4,000,000

 

 

 

Term Loan, 3.742%, maturing October 10, 2014

 

 

 

 

 

2,960,556

 

 

 

 

TPF Generation Holdings, LLC

 

Ba3

 

BB

 

 

1,164,934

 

 

 

Term Loan, 2.598%, maturing December 15, 2011

 

 

 

 

 

1,099,406

1,378,412

 

 

 

Term Loan, 2.234%, maturing December 15, 2013

 

 

 

 

 

1,300,877

1,284,619

 

 

 

Term Loan, 2.598%, maturing December 15, 2013

 

 

 

 

 

1,212,359

 

 

 

 

TPF Generation Holdings, LLC

 

B3

 

B+

 

 

2,000,000

 

 

 

Term Loan, 4.494%, maturing December 15, 2014

 

 

 

 

 

1,703,334

 

 

 

 

Viridian Group, PLC

 

NR

 

NR

 

 

EUR

1,310,694

 

 

 

Term Loan, 4.933%, maturing October 24, 2012

 

 

 

 

 

1,625,976

GBP

1,320,000

 

 

 

Term Loan, 5.018%, maturing October 24, 2012

 

 

 

 

 

1,793,829

 

 

 

 

 

 

 

 

 

 

50,168,218

 

 

 

 

Total Senior Loans
(Cost $1,152,929,486)

 

 

 

 

 

1,019,280,304

OTHER CORPORATE DEBT: 0.1%

 

 

 

 

 

 

Diversified / Conglomerate Manufacturing: 0.1%

 

 

 

 

 

 

 

 

 

 

Flextronics International, Ltd.

 

Ba1

 

BB+

 

 

906,250

 

 

 

Term Loan, 2.518%, maturing October 01, 2014

 

 

 

 

 

$

834,278

259,790

 

 

 

Term Loan, 2.534%, maturing October 01, 2014

 

 

 

 

 

239,159

 

 

 

 

 

 

 

 

 

 

1,073,437

Cargo Transport: 0.0%

 

 

 

 

 

 

 

 

 

 

US Shipping Partners, L.P.

 

NR

 

NR

 

 

297,646

 

 

 

Subordinated Loan, 2.500%, maturing August 07, 2013

 

 

 

 

 

78,876

 

 

 

 

 

 

 

 

 

 

78,876

 

 

 

 

Total Other Corporate Debt
(Cost $1,160,428)

 

 

 

 

 

1,152,313

 

 

 

 

 

 

 

 

 

 

 

EQUITIES AND OTHER ASSETS: 0.0%

 

 

 

 

 

 

 

 

 

 

 

Description

 

Market Value USD

(@), (R)

 

 

 

Decision One Corporation (417,344 Common Shares)

 

 

(@), (R)

 

 

 

Safelite Realty Corporation (30,003 Common Shares)

 

180,828

(@), (R)

 

 

 

Ferretti SPA (Warrants for 0.161% Participation Interest)

 

(@), (R)

 

 

 

US Shipping Partners, L.P. (19,404 Common Shares)

 

 

 

 

 

Total for Equities and Other Assets
(Cost $295,535)

 

180,828

 

 

 

 

Total Investments
(Cost $1,154,385,449)**

114.1%

 

$

1,020,613,445

 

 

 

 

Other Assets and Liabilities - Net

(14.1)

 

(126,170,389)

 

 

 

 

Net Assets

100.0%

 

$

894,443,056

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

 

 

*

 

Senior Loans, while exempt from registration under the Securities Act of 1933, as amended, contain certain restrictions on resale and cannot be sold publicly. These senior loans bear interest (unless otherwise noted) at rates that float periodically at a margin above the London Inter-Bank Offered Rate (“LIBOR”) and other short-term rates.

 

 

 

 

 

Bank Loans rated below Baa by Moody’s Investor Services, Inc. are considered to be below investment grade.

 

 

 

 

(1)

 

The borrower filed for protection under Chapter 11 of the U.S. Federal Bankruptcy code.

 

 

 

 

(2)

 

Loan is on non-accrual basis.

 

 

 

 

(3)

 

Trade pending settlement. Contract rates do not take effect until settlement date.

 

 

 

 

(@)

 

Non-income producing security.

 

 

 

 

(R)

 

Restricted security.

 

 

 

 

AUD

 

Australian Dollar

 

 

 

 

EUR

 

Euro

 

 

 

 

GBP

 

British Pound Stirling

 

 

 

 

SEK

 

Swedish Kronor

 

 

 

 

**

 

For Federal Income Tax purposes cost of investments is $1,155,235,555.

 

 

 

 

 

 

Net unrealized depreciation consists of the following:

 

 

 

 

 

 

Gross Unrealized Appreciation

 

$

7,644,318

 

 

 

 

Gross Unrealized Depreciation

 

(142,266,428)

 

 

 

 

Net Unrealized Depreciation

 

$

(134,622,110)

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

Fair Value Measurements

 

The following is a summary of the fair valuations according to the inputs used as of November 30, 2009 in valuing the Fund’s assets and liabilities:

 

 

 

Quoted Prices

 

Significant Other

 

Significant

 

 

 

 

in Active Markets

 

Observable

 

Unobservable

 

Fair Value

 

 

for Identical Investments

 

Inputs

 

Inputs

 

at

 

 

(Level 1)

 

(Level 2)

 

(Level 3)

 

11/30/2009

Asset Table

 

 

 

 

 

 

 

 

Investments, at value

 

 

 

 

 

 

 

 

Senior Loans

 

$

 

$

1,002,552,304

 

$

16,728,000

 

$

1,019,280,304

Other Corporate Debt

 

 

1,152,313

 

 

1,152,313

Equities and Other Assets

 

 

 

180,828

 

180,828

Total

 

$

 

$

1,003,704,617

 

$

16,908,828

 

$

1,020,613,445

 

 

 

 

 

 

 

 

 

Other Financial Instruments+

 

 

 

 

 

 

 

 

Forward foreign currency contracts

 

 

658,882

 

 

658,882

Total

 

$

 

$

 

$

 

$

1,021,272,327

 

 

 

 

 

 

 

 

 

Liabilities Table

 

 

 

 

 

 

 

 

Other Financial Instruments+

 

 

 

 

 

 

 

 

Forward foreign currency contracts

 

$

 

$

(89,444)

 

$

 

$

(89,444)

Total Liabilities

 

$

 

$

 

$

 

$

(89,444)

 

The following is a reconciliation of the fair valuations using significant unobervable inputs (Level 3) for the Trust’s assets and liabilities during the period ended November 30, 2009:

 

 

 

Beginning
Balance

 

 

 

 

 

 

 

 

 

Accrued
Discounts/

 

Total
Realized

 

Total Unrealized
Appreciation/

 

Transfers
Into

 

Transfers
Out of

 

Ending
Balance

 

 

at 02/28/09

 

Purchases

 

Issuances

 

Settlements

 

Sales

 

(Premiums)

 

Gain/(Loss)

 

(Depreciation)

 

Level 3

 

Level 3

 

at 11/30/09

Senior Loans

 

$

29,258,547

 

$

 

$

 

$

 

$

504,812

 

$

1,352,039

 

$

(26,288,795)

 

$

11,901,397

 

$

 

$

 

$

16,728,000

Equities and Other Assets

 

612,025

 

 

 

 

 

 

(382,047)

 

(49,150)

 

 

 

180,828

Total

 

$

29,870,572

 

$

 

$

 

$

 

$

504,812

 

$

1,352,039

 

$

(26,670,842)

 

$

11,852,247

 

$

 

$

 

$

16,908,828

 

As of November 30, 2009, total change in unrealized gain (loss) on Level 3 securities still held at period end and included in the change in net assets was $4,368,804.

 

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts, futures, swaps, and written options.  Forward foreign currency contracts and futures are reported at their unrealized gain/loss at measurement date which represents the amount due to/from the Trust. Swaps and written options are reported at their market value at measurement date.

 

Transfers into Level 3 represents either the beginning balance (for transfer in), or the ending value (for transfers out) of any security or derivative instrument where a change in the pricing level occurred fom the beginning to the end of the period.

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

At November 30, 2009 the following forward foreign currency contracts were outstanding for ING Senior Income Fund :

 

 

 

 

 

 

 

In

 

 

 

Unrealized

 

 

 

 

Settlement

 

Exchange

 

 

 

Appreciation/

Currency

 

Buy/Sell

 

Date

 

For

 

Value

 

(Depreciation)

 

 

 

 

 

 

USD

 

 

 

 

Australian Dollar

 

 

 

 

 

 

 

 

 

 

AUD 19,920,000

 

Sell

 

02/26/10

 

$

18,377,395

 

$

18,056,321

 

$

321,074

British Pound Sterling

 

 

 

 

 

 

 

 

 

 

GBP 7,500,000

 

Sell

 

12/31/09

 

12,527,175

 

12,314,760

 

212,415

British Pound Sterling

 

 

 

 

 

 

 

 

 

 

GBP 4,800,000

 

Sell

 

01/29/10

 

7,837,488

 

7,879,853

 

(42,365)

British Pound Sterling

 

 

 

 

 

 

 

 

 

 

GBP 813,000

 

Sell

 

02/26/10

 

1,356,986

 

1,334,389

 

22,597

Euro

 

 

 

 

 

 

 

 

 

 

EUR 39,545,000

 

Sell

 

12/31/09

 

59,231,912

 

59,278,991

 

(47,079)

Euro

 

 

 

 

 

 

 

 

 

 

EUR 5,978,000

 

Sell

 

01/29/10

 

8,964,850

 

8,960,253

 

4,597

Euro

 

 

 

 

 

 

 

 

 

 

EUR 4,500,000

 

Sell

 

02/26/10

 

6,806,340

 

6,743,896

 

62,444

Sweden Kronor

 

 

 

 

 

 

 

 

 

 

SEK 16,913,750

 

Sell

 

12/30/09

 

2,434,391

 

2,418,347

 

16,044

Sweden Kronor

 

 

 

 

 

 

 

 

 

 

SEK 6,191,250

 

Sell

 

02/26/10

 

905,171

 

885,460

 

19,711

 

 

 

 

 

 

$

118,441,708

 

$

117,872,270

 

569,438

 



 

 

 

PORTFOLIO OF INVESTMENTS

ING Senior Income Fund

 

as of November 30, 2009 (Unaudited) (continued)

 

On March 19, 2008, the FASB issued Statement of Financial Accounting Standards No. 161 (“SFAS No. 161”), “Disclosure about Derivative Instruments and Hedging Activities.” This new accounting statement requires enhanced disclosures about an entity’s derivative and hedging activities. Entities are required to provide enhanced disclosures about (a) how and why an entity invests in derivatives, (b) how derivatives are accounted for under SFAS No. 133, and ( c ) how derivatives affect an entity’s financial position, financial performance, and cash flows. SFAS No. 161 also requires enhanced disclosures regarding credit-risk related contingent features of derivative instruments.

 

The following is a summary of the fair valuations of the Fund’s derivative instruments categorized by risk exposure as of November 30, 2009:

 

 

 

Derivatives Fair Value*

Foreign exchange contracts

 

$

569,438

Total

 

$

569,438

 

* Forward foreign currency contracts and futures are reported at their unrealized gain/loss at measurement date which represents the amount due to/from the Fund. Swaps and written options are reported at their market value at measurement date.

 



 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant):  ING Senior Income Fund

 

 

 

By

/s/ Shaun P. Mathews

 

 

Shaun P. Mathews

 

 

President and Chief Executive Officer

 

 

 

 

Date:

January 27, 2010

 

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By

/s/ Shaun P. Mathews

 

 

Shaun P. Mathews

 

 

President and Chief Executive Officer

 

 

 

 

Date:

January 27, 2010

 

 

 

 

By

/s/ Todd Modic

 

 

Todd Modic

 

 

Senior Vice President and Chief Financial Officer

 

 

 

 

Date:

January 27, 2010