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Voya Financial to redeem senior notes

Voya Financial Inc. intends to redeem $125 million of its outstanding 5.500% senior notes due 2022 on Nov. 5.

The notes will be redeemed at a price equal to the greater of the principal amount plus accrued and unpaid interest to, but excluding, the redemption date, or the make-whole redemption amount.

The company plans to finance the redemption using cash on hand and net proceeds from its offering of $325 million of its series A 6.125% fixed-rate reset noncumulative preferred stock.

Approximately $96.8 million of the notes is expected to remain outstanding following the redemption.