In the five months between ING Direct's first securitisation deal of the year and its second, which was priced yesterday, there has been a five basis point widening of its margin.In March, when ING Direct raised A$1 billion through the issue of IDOL Trust Series 2013-1, pricing of the $930 million A1 tranche (with a weighted average life of 3.2 years) was 95 basis points over the one-month bank bill swap rate. Pricing on the $920 million A1 tranche of the latest deal, IDOL Trust Series 2013-2, which has a weighted average life of 2.9 years, was 100 bps over the swap rate.Pricing on the $20 million AB tranche, which has a weighted average life of 6.3 years, was 165 bps over swap.ING Direct did not disclose pricing on the $25 million AC tranche or the $25 million B tranche.The bank said in a statement that 20 investors participated in the transaction. National Australia Bank was the arranger of the transaction. ANZ, ING Bank NV Singapore branch, NAB and Macquarie Bank were joint lead managers.