Voya Financial Closes Tender Offers

October 9, 2018

Cleary Gottlieb represented Voya Financial Inc. (Voya) in its cash tender offers for four series of outstanding debentures and notes issued by Voya and its wholly owned subsidiary, Voya Holdings Inc. (Voya Holdings).

Pursuant to the cash tender offers, Voya offered to purchase (i) any and all outstanding 7.25 percent debentures due 2023, 7.625 percent debentures due 2026, and 6.97 percent debentures due 2036 of Voya Holdings (collectively, the Voya Holdings debentures) and (ii) up to the maximum aggregate principal amount of Voya’s 5.5 percent senior notes due 2022 that Voya could purchase (exclusive of accrued interest) for an amount equal to the excess, if any, of $325 million over the amount paid (exclusive of accrued interest) to purchase the Voya Holdings debentures validly tendered and accepted for purchase. The settlement of the tender offers occurred on October 3, 2018, following the expiration of both tender offers on October 1, 2018.

Voya, together with its affiliates (including Voya Holdings), is a premier retirement, investment, and insurance company with individual and institutional customers in the United States that offers its customers services to save, grow, protect, and enjoy their wealth, and employs approximately 6,300 employees.