VOYA FINANCIAL, INC. (NYSE:VOYA) Files An 8-K Regulation FD DisclosureItem 7.01
On July12, 2017, the Company issued a press release announcing the Redemption (as defined below). The press release is attached hereto as Exhibit 99.1, and is incorporated by reference herein.
The information in this Item 7.01, including Exhibit 99.1, is being furnished and shall not be deemed to be “filed” for purposes of Section18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that Section, nor shall such information be deemed to be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as otherwise stated in that filing.
On July12, 2017, the Company delivered to the holders of its 2.900% Senior Notes due 2018 (the “2018 Notes”) a notice of redemption (the “Notice”), notifying those noteholders that, to Section3.04 of the base indenture (the “Base Indenture”), dated as of July13, 2012, among ING U.S., Inc. (subsequently renamed Voya Financial, Inc.) (the “Issuer”), Lion Connecticut Holdings Inc. (subsequently renamed Voya Holdings Inc.) (the “Guarantor”) and U.S. Bank National Association, as trustee (the “Trustee”) and Section2.07 of the second supplemental indenture to the Base Indenture (the “Second Supplemental Indenture”, and, together with the Base Indenture, the “Indenture”), dated as of February11, 2013, among the Issuer, the Guarantor and the Trustee, the Company has elected to redeem $400,000,000 in aggregate principal amount of the outstanding 2018 Notes, in accordance with the terms of the Indenture and the 2018 Notes (the “Redemption”).
to the Notice, the 2018 Notes are called for redemption on August11, 2017 (the “Redemption Date”). The redemption price for the 2018 Notes is equal to the greater of (i) 50% of principal amount of the Notes to be redeemed plus accrued and unpaid interest to, but excluding, the Redemption Date, or (ii)the Make-Whole Redemption Amount (as defined in the Indenture) (the “Redemption Amount”). On the Redemption Date, the Redemption Amount will become due and payable on the 2018 Notes called for redemption and, unless the Company defaults in making payment of the Redemption Amount, interest on the 2018 Notes called for redemption shall cease to accrue on and after the Redemption Date.
The Company intends to fund the Redemption Amount from the net proceeds it received from its recent registered public offering of $400,000,000 aggregate principal amount of 3.125% senior notes due 2024 together with cash on hand. Following payment of the Redemption Amount, it is expected that $337,036,000 aggregate principal amount of the 2018 Notes will remain outstanding.
| Item 7.01. | Financial Statements and Exhibits. |
(d) Exhibits
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ExhibitNo. |
Description |
| 99.1 | Press Release of the Company, dated July12, 2017 |
Voya Financial, Inc. ExhibitEX-99.1 2 d399070dex991.htm EX-99.1 EX-99.1 Exhibit 99.1 NEW YORK,…To view the full exhibit click here
About VOYA FINANCIAL, INC. (NYSE:VOYA)
Voya Financial, Inc. is a holding company. The Company is a retirement, investment and insurance company, which provides retirement services, annuities, investment management services, mutual funds, life insurance, group insurance and supplemental health products. It provides its principal products and services in two ongoing businesses: Retirement and Investment Solutions, and Insurance Solutions. The Retirement and Investment Solutions business provides products and services through three segments: Retirement, Annuities and Investment Management. The Insurance Solutions business provides its products and services through two segments: Individual Life and Employee Benefits. In addition, the Company also has Closed Blocks and Corporate segments. Closed Blocks consists of two segments, which it has placed in run-off: Closed Block Variable Annuity and Closed Block Other. Corporate segment includes its corporate activities, and corporate-level assets and financial obligations.