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Stock Market & Financial Investment News

News Breaks
March 18, 2014
14:15 EDTVOYAING U.S. files to sell 26.5M common shares for holder
ING Groep is offering 26.5M shares of the common stock of ING U.S. ING U.S. will not receive any of the proceeds from the sale of the shares sold by the selling stockholder. Concurrently with the completion of this offering, the company expects to repurchase from ING Group an additional number of shares of its common stock having an aggregate repurchase price of $250M, at a price per share equal to the per share proceeds, before expenses, to the selling stockholder. Morgan Stanley, Goldman Sachs, Citigroup, and Bank of America Merrill Lynch are acting as joint book-running managers for the offering.
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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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