Voya Prime Rate Trust Announces Resignation of Investment Manager, Intention to Approve Successor Manager and Second Tender Offer

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Voya Prime Rate Trust (NYSE: PPR) (“the Fund”) announced today that Voya Investments, LLC (“VIL”) (the investment manager to the Fund) has notified the Board that it will resign as the Fund’s manager effective June 22, 2021. Upon the effective date, the sub-advisory agreement between VIL and Voya Investment Management Co. LLC (“Voya IM”) will also terminate and the sub-adviser will cease to provide day-to-day investment management services for the Fund.