Voya Prime Rate Trust to Repay Credit Facility

SCOTTSDALE, Ariz.--(BUSINESS WIRE)--The Board of Trustees (the “Board”) has determined that it is in the best interest of Voya Prime Rate Trust (“the Fund”) (NYSE: PPR) and its shareholders to repay the Fund’s outstanding borrowings under the Fund’s line of credit (the “LOC”) to address concerns they have about terms related to the LOC and the Fund’s ability to obtain a long-term extension of the LOC . In furtherance of this determination, the Board has directed Voya Investments, LLC (the “Adviser”) to take the appropriate actions to repay the Fund’s outstanding borrowings under the LOC.