Voya Financial Inc. has entered into a new financing agreement through the issuance and sale of Pre-Capitalized Trust Securities (P-Caps) totaling $600 million, as detailed in a recent Form 8-K filing. The agreement, dated May 21, 2025, involves Voya Financial, its subsidiary Voya Holdings Inc., and representatives TD Securities $(USA)$ LLC and BofA Securities, Inc. The P-Caps, redeemable by May 15, 2035, will pay an annual distribution rate of 6.012%, payable semi-annually. The proceeds from this private placement, conducted under Rule 144A of the Securities Act of 1933, are invested in U.S. Treasury securities. This arrangement provides Voya with a contingent liquidity source for general corporate purposes. Additionally, Voya has the right to instruct the trust to purchase its Senior Notes in a principal amount up to $600 million, thus offering flexibility within the Facility Agreement.