Voya Investments, LLC announces an open-market share repurchase program for Voya Prime Rate Trust
December 05 2019 - 9:00AM
Business Wire
Voya Investments, LLC (the "Adviser") announced today an
open-market share repurchase program for Voya Prime Rate Trust
(NYSE:PPR) (the "Fund").
The Fund's Board of Trustees has authorized an open-market share
repurchase program pursuant to which the Fund may purchase up to
10% of its stock in open-market transactions commencing on January
1, 2020 for no longer than a one year period.
The amount and timing of the repurchases will be at the
discretion of the Fund’s management, subject to market conditions
and investment considerations. There is no assurance that the Fund
will purchase shares at any particular discount levels or in any
particular amounts. Any repurchases made under this program
would be made on a national securities exchange at the prevailing
market price, subject to exchange requirements and volume, timing
and other limitations under federal securities laws. The
share repurchase program seeks to enhance shareholder value by
purchasing shares trading at a discount from their net asset value
("NAV") per share.
Forward-Looking Statements
Certain statements made on behalf of the Fund in this release
are forward-looking statements. The Fund’s actual future results
may differ significantly from those anticipated in any
forward-looking statements due to numerous factors, including but
not limited to a decline in value in equity markets in general or
the Fund’s investments specifically. Neither the Fund nor Voya
Investment Management undertake any responsibility to update
publicly or revise any forward-looking statement.
About Voya Investment Management
A leading, active asset management firm, Voya Investment
Management manages, as of June 30, 2019, approximately $217 billion
for affiliated and external institutions as well as individual
investors. With 40 years of history in asset management, Voya
Investment Management has the experience and resources to provide
clients with investment solutions with an emphasis on equities,
fixed income, and multi-asset strategies and solutions. For more
information, visit voyainvestments.com. Follow Voya Investment
Management on Twitter @VoyaInvestments.
IM0321-22976-0317
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SHAREHOLDER INQUIRIES: Shareholder Services at (800) 992-0180;
voyainvestments.com
CONTACT: Kris Kagel, (212) 309-6568
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