Voya Prime Rate Trust Recommends Voting Against Saba’s Proposal That the Board Consider a 40 Percent Self-Tender Offer

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Voya Prime Rate Trust (NYSE: PPR) (the “Trust”), today sent a letter to shareholders outlining why its Board recommends shareholders vote against a proposal put forward by a hedge fund managed by Saba Capital Management (together with the hedge fund, “Saba”) requesting that the Board authorize a 40 percent self-tender offer of the outstanding shares of the Trust.