Voya Financial to redeem $125 million of 5.5% senior notes due 2022

By Sarah Lizee

Olympia, Wash., Oct. 4 – Voya Financial, Inc. plans to redeem $125 million of its 5.5% senior notes due 2022, according to an 8-K filing with the Securities and Exchange Commission.

The notes will be redeemed on Nov. 5 at a redemption price equal to the greater of par plus accrued interest to but excluding the redemption date and the make-whole redemption amount.

Following the redemption, $96,791,000 of the notes will remain outstanding.

The company intends to fund the redemption from the net proceeds it received from its public offering of $325 million of 6.125% series A fixed-rate reset non-cumulative preferred stock, as well as cash on hand.

Voya is a New York-based retirement, investment and insurance company.

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