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Stock Market & Financial Investment News

News Breaks
March 18, 2014
09:31 EDTVOYAING U.S. trading halted, pending news
News For VOYA From The Last 14 Days
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September 22, 2014
12:45 EDTVOYAVoya Financial expands services to insurers
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September 10, 2014
09:04 EDTVOYASolar Senior Capital forms first lien loan program in partnership with Voya
Solar Senior Capital Ltd. (SUNS) announces that it has entered into a joint venture agreement to create a First Lien Loan Program with Voya Investment Management. Voya acts as the investment advisor for several wholly owned insurance subsidiaries of Voya Financial, Inc. (VOYA). The joint venture is expected to invest primarily in senior secured term loans to middle market companies predominantly owned by private equity sponsors or entrepreneurs, consistent with Solar Seniorís core origination and underwriting mandate. Solar Senior and Voya have committed to provide $50M and $7.25M, respectively, of capital to the joint venture. In addition, FLLP intends to seek third party financing that is expected to allow the joint venture to utilize leverage up to a ratio of approximately 2.0x debt-to-equity once the portfolio is sufficiently ramped. Solar Senior and Voya expect to begin funding the portfolio with new investments prior to the end of 2014.

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