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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM N-Q

 

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

 

Investment Company Act file number: 811-5410

 

Voya Prime Rate Trust

(Exact name of registrant as specified in charter)

 

7337 E. Doubletree Ranch Rd., Suite 100, Scottsdale, AZ 85258

(Address of principal executive offices) (Zip code)

 

C T Corporation System, 101 Federal Street, Boston, MA 02110

(Name and address of agent for service)

 

Registrant’s telephone number, including area code: 1-800-992-0180

 

Date of fiscal year end: February 28

 

Date of reporting period: May 31, 2014

 

 
 

 

Item 1. Schedule of Investments

 

The schedules of investments as of the close of the reporting period are set forth below for:

 

Voya Prime Rate Trust

 

The schedules are not audited.

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited)

 

N andals

  

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: 137.1%       
        Aerospace & Defense: 0.9%          
 6,416,313      American Airlines, Inc., Term Loan, 3.750%, 06/27/19  $6,434,362    0.7 
 1,807,179      Data Device Corp. (DDC), First Lien Term Loan, 8.000%, 07/11/18   1,811,697    0.2 
            8,246,059    0.9 
                   
        Automotive: 3.2%          
 1,350,000      Cooper-Standard Automotive Inc., Term Loan B, 4.000%, 04/01/21   1,352,531    0.2 
 6,200,000      Federal-Mogul Corporation, Term Loan C, 4.750%, 04/15/21   6,186,441    0.7 
 3,991,234      Fram Group Holdings Inc., First Lien Term Loan, 6.500%, 07/31/17   3,994,558    0.4 
 3,742,140      Fram Group Holdings Inc., Second Lien Term Loan, 10.500%, 01/29/18   3,555,032    0.4 
EUR  1,975,000      Metaldyne, LLC, Term Loan E, 4.750%, 12/15/18   2,709,048    0.3 
 3,531,651      Metaldyne, LLC, USD Term Loan B, 4.250%, 12/31/18   3,543,129    0.4 
 1,260,506      Schrader International, Lux Term Loan, 5.000%, 04/27/18   1,266,020    0.1 
 969,648      Schrader International, US Term Loan, 5.000%, 04/27/18   973,890    0.1 
 816,750      TI Group Automotive Systems, LLC, Term Loan B, 5.500%, 03/31/19   821,600    0.1 
 4,613,570      UCI International, Inc., Term Loan B, 5.500%, 07/26/17   4,633,755    0.5 
            29,036,004    3.2 
                   
        Building & Development: 3.3%          
 2,150,000      Capital Automotive L.P., Second Lien Term Loan, 6.000%, 04/30/20   2,193,000    0.2 
 6,060,383      Capital Automotive L.P., Term Loan, 4.000%, 04/10/19   6,088,794    0.7 
 7,800,000   (1)  Doosan Infracore Bobcat Holdings Co., Ltd., Term Loan B, 05/27/21   7,838,907    0.9 
 1,791,000      Minimax Viking GmbH, Facility B1 Loan, 4.500%, 08/30/20   1,803,313    0.2 
 4,258,423      NCI Building Systems, Inc., Term Loan, 4.250%, 06/24/19   4,260,420    0.5 
 545,000      Quikrete Holdings, Second Lien Term Loan, 7.000%, 03/23/21   558,625    0.0 
 4,328,250      Quikrete Holdings, Term Loan B, 4.000%, 09/23/20   4,332,310    0.5 
 2,552,615      Wilsonart LLC, Term Loan B, 4.000%, 10/31/19   2,541,447    0.3 
            29,616,816    3.3 
                   
        Business Equipment & Services: 13.2%          
 8,205,808      Acosta, Inc., Upsized Term Loan B, 4.250%, 03/02/18   8,243,415    0.9 
 8,074,497   (1)  Advantage Sales & Marketing, Inc., December 2013 Upsized First Lien Term Loan, 4.250%, 12/17/17   8,100,449    0.9 
 2,663,507   (1)  Advantage Sales & Marketing, Inc., Upsized Second Lien Term Loan, 8.250%, 06/17/18   2,716,777    0.3 
 2,000,000      AlixPartners LLP, Second Lien Term Loan, 9.000%, 07/09/21   2,047,500    0.2 
 4,888,248      AlixPartners LLP, Term Loan B-2, 4.000%, 07/09/20   4,890,795    0.6 
 1,990,000      Allflex Holdings III, Inc., First Lien Term Loan, 4.250%, 07/17/20   1,993,731    0.2 
 1,300,000      Allflex Holdings III, Inc., Second Lien Term Loan, 8.000%, 07/19/21   1,315,167    0.1 
 2,215,000      Catalina Marketing Corporation, First Lien Term Loan, 4.500%, 04/01/21   2,218,462    0.3 
 2,700,000      Catalina Marketing Corporation, Second Lien Term Loan, 7.750%, 04/01/22   2,703,375    0.3 
 4,517,385      Coinmach Service Corp., Upsized Term Loan, 4.250%, 11/15/19   4,523,031    0.5 
 2,105,000      CorpSource Finance Holdings, LLC , Second Lien, 8.750%, 04/30/19   2,136,575    0.2 
 6,352,000      CorpSource Finance Holdings, LLC, First Lien Term Loan, 5.250%, 04/30/18   6,383,760    0.7 
EUR  645,000      CPA Global Financing , First Lien Term Loan Euro, 4.750%, 11/30/20   889,359    0.1 
 448,875      CPA Global Financing , First Lien Term Loan USD, 4.500%, 11/30/20   453,083    0.1 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Business Equipment & Services: (continued)          
 4,001,800      First American Payment Systems, First Lien Term Loan, 5.750%, 09/30/18  $4,016,807    0.5 
 1,750,000      First American Payment Systems, Second Lien, 10.750%, 03/30/19   1,767,500    0.2 
 4,443,801      GCA Services, Replacement Term Loan, 4.272%, 11/01/19   4,449,356    0.5 
 578,279      Information Resources, Inc., Term Loan B, 4.750%, 09/30/20   579,725    0.1 
 5,000,000   (1)  Interactive Data Corporation, Term Loan B, 05/01/21   5,043,750    0.6 
 1,218,750      ION Trading Technologies Limited, First Lien Term Loan, 4.500%, 05/22/20   1,220,273    0.1 
 1,300,000      ION Trading Technologies Limited, Second Lien Term Loan, 8.250%, 05/21/21   1,309,750    0.1 
 5,809,524      iQor, First Lien Term Loan, 6.000%, 02/15/21   5,555,357    0.6 
 2,500,000      iQor, Second Lien Term Loan, 9.750%, 02/15/22   2,379,687    0.3 
 2,090,909   (1)  Knowledge Universe Education, LLC, Term loan B, 5.250%, 03/20/21   2,117,045    0.2 
 1,975,000   (1)  Learning Care Group, Term loan, 05/01/21   1,999,688    0.2 
 4,193,548      Legal Shield, First Lien Term Loan, 6.250%, 07/01/19   4,243,347    0.5 
 2,000,000      Legal Shield, Second Lien Term Loan, 9.750%, 07/01/20   2,046,250    0.2 
 4,887,437      Mercury Payment Systems, LLC, Term Loan B, 5.500%, 07/01/17   4,905,765    0.6 
 2,981,250      Miller Heiman, Inc., Term Loan B, 6.750%, 09/30/19   2,900,756    0.3 
 371,225      Misys (Magic Newco 2 S.a.r.l.), Term Loan B Add-On, 5.000%, 12/01/18   374,667    0.0 
 2,779,000      RentPath, Inc., Term Loan B, 6.250%, 05/29/20   2,779,870    0.3 
 2,285,938      SGS International, Term Loan, 4.250%, 10/17/19   2,293,081    0.3 
 3,030,000      Ship US Bidco, Inc. (Worldpay), Term Loan B2A-II, 5.250%, 11/30/19   3,056,512    0.3 
GBP  1,710,000      Ship US Bidco, Inc. (Worldpay), Term Loan C1, 5.750%, 11/30/19   2,896,952    0.3 
 780,000      Ship US Bidco, Inc. (Worldpay), Term Loan C2, 4.750%, 11/29/19   786,175    0.1 
EUR  500,000      Sophos, Term Loan B EUR, 5.250%, 01/30/21   687,113    0.1 
 600,000     Sophos, Term Loan B USD, 5.000%, 01/30/21   603,500    0.1 
 1,370,417      StoneRiver Group, LP, First Lien, 4.500%, 11/30/19   1,368,133    0.2 
 231,405      StoneRiver Group, LP, Second Lien, 8.500%, 05/31/20   232,996    0.0 
 4,403,701      SurveyMonkey.com, LLC, Term Loan B, 5.500%, 02/07/19   4,406,343    0.5 
 886,667      Sutherland Global Services, Term Loan Cayman, 7.250%, 03/06/19   892,208    0.1 
 1,963,333      Sutherland Global Services, Term Loan US, 7.250%, 03/06/19   1,975,604    0.2 
 1,540,829      Transfirst Holdings, Inc., First Lien Term Loan, 4.000%, 12/27/17   1,543,397    0.2 
 990,000      Wash Multi-Family Services, USD Term Loan, 4.503%, 02/21/19   990,000    0.1 
            118,037,086    13.2 
                   
        Cable & Satellite Television: 2.8%          
 4,147,161      Liberty Cablevision of Puerto Rico LLC., First Lien, 6.000%, 06/09/17   4,167,897    0.5 
 2,555,107      RCN Cable, Term Loan B, 4.500%, 02/25/20   2,565,887    0.3 
GBP  4,750,000      Virgin Media Investment Holdings Limited, Term loan E (GBP), 3.500%, 06/30/23   7,968,345    0.9 
 10,233,059      Wideopenwest Finance, LLC, Term Loan B, 4.750%, 04/01/19   10,291,418    1.1 
            24,993,547    2.8 
                   
        Chemicals & Plastics: 7.0%          
 2,553,600      Armacell, First Lien Term Loan, 5.500%, 06/30/20   2,556,792    0.3 
 5,582,810      Arysta LifeScience Corporation, First Lien Term Loan, 4.500%, 05/29/20   5,596,767    0.6 
EUR  1,240,625      Axalta Coating Systems (fka DuPont Performance Coatings), 2014 Specified Refinancing Euro Term Loan, 4.250%, 02/02/20   1,706,590    0.2 

  

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Chemicals & Plastics: (continued)          
 6,455,000   (1)  Axalta Coating Systems (fka DuPont Performance Coatings), 2014 Specified Refinancing Term B Loan, 4.000%, 02/02/20  $6,513,902    0.7 
 2,178,221      AZ Chem US Inc., Term Loan B, 5.250%, 12/22/17   2,186,389    0.3 
 1,000,000      Ennis Flint (a.k.a Road Infrastructure Investment LLC), First Lien Term Facility, 4.250%, 04/01/21   997,083    0.1 
 650,000      Houghton International, Inc., Second Lien Term Loan, 9.500%, 12/20/20   665,437    0.1 
 1,984,875      Houghton International, Inc., USD Second Lien Term Loan, 4.000%, 12/20/19   1,989,837    0.2 
 9,747,963      Ineos US Finance LLC, Cash Dollar Term Loan, 3.750%, 05/04/18   9,705,316    1.1 
EUR  991,144      Ineos US Finance LLC, Cash Euro Term Loan, 4.000%, 05/04/18   1,358,782    0.2 
 900,000      Kronos Worldwide, Inc., Term Loan B Facility, 4.750%, 02/21/20   907,594    0.1 
 1,985,000      MacDermid, Inc., First Lien Term Loan, 4.000%, 06/07/20   1,986,654    0.2 
 1,617,358   (1)  Monarch (Allnex S.a.r.l.), First Lien Term Loan B-1, 4.500%, 10/03/19   1,624,433    0.2 
 823,839   (1)  Monarch (Allnex S.a.r.l.), First Lien Term Loan B-2, 4.500%, 10/03/19   827,443    0.1 
EUR  941,196      Monarch (Allnex S.a.r.l.), First Lien Term Loan Euro, 4.750%, 10/01/19   1,287,803    0.1 
 218,701      Monarch (Allnex S.a.r.l.), Second Lien Term Loan, 8.250%, 04/01/20   225,353    0.0 
EUR  1,194,000      Oxea S.a.r.l., First Lien Term Loan Euro, 4.500%, 01/15/20   1,643,877    0.2 
 2,333,275      Oxea S.a.r.l., First Lien Term Loan USD, 4.250%, 01/15/20   2,337,650    0.3 
 1,100,000      Oxea S.a.r.l., Second Lien Term Loan USD, 8.250%, 07/15/20   1,113,750    0.1 
 782,402      Royal Adhesives & Sealants, First Lien Term Facility, 5.500%, 08/01/18   790,553    0.1 
 6,440,417      Tronox Pigments (Netherlands) BV, Term Loan, 4.000%, 03/19/20   6,455,944    0.7 
 7,016,722      Univar Inc., Term Loan B, 5.000%, 06/30/17   7,031,759    0.8 
 2,900,853      Vantage Specialties Inc., Incremental Term Loan Facility, 5.000%, 02/10/19   2,917,171    0.3 
            62,426,879    7.0 
                   
        Clothing/Textiles: 0.6%          
 3,173,251      Herff Jones, Inc., First Lien Term Loan, 5.500%, 06/25/19   3,194,407    0.4 
 2,246,053   (1)  Vince, LLC, Term Loan, 6.000%, 11/30/19   2,276,936    0.2 
            5,471,343    0.6 
                   
        Conglomerates: 1.3%          
 3,000,000   (1)  ServiceMaster Company, Term Loan, 01/31/17   3,004,554    0.3 
EUR  663,338      Spectrum Brands, Inc., EURO Term Loan, 3.750%, 09/30/19   907,620    0.1 
 2,577,050      Waterpik, First Lien, 5.750%, 07/01/20   2,586,714    0.3 
 5,069,647      WireCo WorldGroup, Inc., Term Loan B, 6.000%, 02/15/17   5,110,838    0.6 
            11,609,726    1.3 
                   
        Containers & Glass Products: 3.4%          
 748,125      Ardagh Group, Dollar TermFacility, 4.250%, 12/31/19   751,165    0.1 
 800,000      Ardagh Group, Incremental facililty, 4.000%, 12/31/19   800,334    0.1 
 527,350      Berlin Packaging, LLC, First Lien Term Loan, 4.750%, 04/02/19   530,976    0.1 
 2,000,000      Berry Plastics Corporation, Term E Loan, 3.750%, 12/20/20   1,994,688    0.2 
 2,977,500      EveryWare, Inc., Term Loan, 7.500%, 05/21/20   2,181,019    0.2 
 3,235,823      Husky Injection Molding Systems, Ltd., Incremental Term Loan, 4.250%, 06/30/18   3,247,452    0.4 
 1,454,656      Otter Products, Term Loan B, 5.250%, 04/29/19   1,456,777    0.2 
 2,662,594      Pro Mach, Inc., Term Loan, 4.500%, 07/06/17   2,669,250    0.3 
EUR  964,636      Reynolds Group Holdings Inc, Eur Term Loan, 4.250%, 12/15/18   1,328,093    0.1 
 10,246,862      Reynolds Group Holdings Inc, USD Term Loan, 4.000%, 12/15/18   10,271,055    1.2 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Containers & Glass Products: (continued)          
 3,899,271      TricorBraun, Term Loan, 4.000%, 05/03/18  $3,912,267    0.4 
 687,300      WNA Holdings Inc (a.k.a Waddington Group), USD Term Loan (Canadian Borrower), 4.500%, 06/07/20   689,448    0.1 
 376,442      WNA Holdings Inc (a.k.a Waddington Group), USD Upsized Term Loan (US Borrower), 4.500%, 05/23/20   377,618    0.0 
            30,210,142    3.4 
                   
        Cosmetics/Toiletries: 0.6%          
 3,419,826      KIK Custom Products, Inc., First Lien with Incremental, 5.500%, 04/29/19   3,420,896    0.4 
 2,170,223      Sun Products Corporation, Term Loan B, 5.500%, 03/23/20   2,096,978    0.2 
            5,517,874    0.6 
                   
        Diversified Insurance: 5.2%          
 6,151,394   (1)  AmWINS Group, Inc., Term Loan B, 5.000%, 09/06/19   6,171,577    0.7 
 2,892,750      Applied Systems Inc., First Lien Term Loan, 4.250%, 01/15/21   2,901,790    0.3 
 1,700,000      Applied Systems Inc., Second Lien Term Loan, 7.500%, 01/15/22   1,730,282    0.2 
 3,225,625      Cooper Gay Swett & Crawford, Ltd., First Lien Term Loan, 5.000%, 04/16/20   3,159,767    0.4 
 1,400,000      Cooper Gay Swett & Crawford, Ltd., Second Lien Term Loan, 8.250%, 10/15/20   1,361,500    0.2 
 11,945,000   (1)  Hub International Limited, Term Loan B, 4.250%, 10/02/20   11,958,438    1.3 
 4,760,344      National Financial Partners Corp., Add-On Term Loan B, 5.250%, 07/01/20   4,792,329    0.5 
 6,400,000      Sedgwick Holdings, Inc., First Lien Term Loan, 3.750%, 02/28/21   6,324,000    0.7 
 2,900,000      Sedgwick Holdings, Inc., Second Lien Term Loan, 6.750%, 02/28/22   2,901,813    0.3 
 5,085,818      USI, Inc., Term Loan, 4.250%, 12/27/19   5,095,354    0.6 
            46,396,850    5.2 
                   
        Drugs: 0.2%          
 1,700,000      Akorn, Inc., Term Loan, 4.500%, 11/01/20   1,709,209    0.2 
                   
        Ecological Services & Equipment: 1.8%          
 5,000,000      4L Holdings Inc., Term loan B, 5.500%, 05/08/20   5,010,940    0.6 
 10,844,451      ADS Waste Holdings, Inc., B-2, 3.750%, 10/09/19   10,795,878    1.2 
            15,806,818    1.8 
                   
        Electronics/Electrical: 16.1%          
 2,942,625      Active Network, Inc., First Lien Term Loan, 5.500%, 11/18/20   2,948,142    0.3 
 2,700,000      Aptean Holdings, Inc., First Lien Term Loan, 5.250%, 02/26/20   2,706,750    0.3 
 700,000      Aptean Holdings, Inc., Second Lien Term Loan, 8.500%, 02/26/21   708,750    0.1 
 1,891,228      Aspect Software, Inc., Term Loan, 7.250%, 05/09/16   1,906,594    0.2 
 6,987,093      Attachmate Corporation, First Lien Term Loan, 7.250%, 11/22/17   7,050,417    0.8 
 1,380,000      Avast Software, Term Loan, 5.000%, 03/21/20   1,380,287    0.2 
 7,901,834      Blackboard Inc., Term Loan B-3, 4.750%, 10/04/18   7,963,571    0.9 
 3,811,203      Blue Coat Systems, Inc., First Lien Term Loan, 4.000%, 05/31/19   3,814,180    0.4 
 3,100,000      Blue Coat Systems, Inc., Second Lien Term Loan, 9.500%, 06/28/20   3,160,062    0.4 
EUR4,688,250      BMC Software, Inc., Term Loan Euro, 5.500%, 08/19/20   6,453,200    0.7 
 2,493,750      BMC Software, Inc., Term Loan U.S., 5.000%, 08/19/20   2,502,628    0.3 
EUR  3,731,250      Dell International LLC, Euro Term Loans, 4.750%, 04/30/20   5,110,978    0.6 
 9,925,351      Dell International LLC, Term B Loans, 4.500%, 04/30/20   9,924,219    1.1 
 1,000,000   (1)  ECI, Term Loan B, 04/30/21   1,008,750    0.1 
 3,982,088      Epicor Software Corporation, Term Loan B-2, 4.000%, 05/16/18   3,990,176    0.5 
 3,636,725      Epiq Systems, Inc., Term Loan, 4.250%, 08/27/20   3,650,363    0.4 
 980,625      Eze Castle Software, Inc., Second Lien Term Loan, 7.250%, 04/04/21   979,399    0.1 
 992,500      Eze Castle Software, Inc., Term Loan B-1, 4.000%, 04/04/20   993,741    0.1 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Electronics/Electrical: (continued)          
 2,000,000      FCI International S.A.S., Term Loan B, 6.250%, 12/31/20  $2,016,250    0.2 
 8,403,632   (1)  Freescale Semiconductor, Inc., Tranche B-4 Term Loan, 4.250%, 03/01/20   8,423,591    0.9 
 2,238,750      Freescale Semiconductor, Inc., Tranche B-5 Term Loan, 5.000%, 01/15/21   2,252,731    0.3 
 8,190,197      Go Daddy Operating Company, LLC, Term Loan, 4.750%, 05/05/21   8,238,314    0.9 
EUR  2,475,000      Greeneden U.S. Holdings II, LLC, Euro Term Loan, 4.750%, 02/08/20   3,390,665    0.4 
 1,856,250      Hyland Software, Inc., First Lien Term Loan, 4.750%, 10/25/19   1,868,238    0.2 
 10,066,600      Infor (US), Inc., Term Loan B5, 3.750%, 06/03/20   10,023,455    1.1 
 10,133,317      Kronos Incorporated, Upsized Term Loan, 4.500%, 10/30/19   10,183,984    1.1 
 3,850,000   (1)  M/A-COM Technology Solutions Holdings, Inc., Term Loan B, 4.500%, 05/07/21   3,869,250    0.4 
EUR  598,500      Oberthur Technologies, Tranche B-1 Term Loans, 4.750%, 10/15/19   825,679    0.1 
 2,706,962   (1)  Oberthur Technologies, Tranche B-2 Term Loans, 4.500%, 10/15/19   2,722,121    0.3 
 2,024,925      Omnitracs Inc., Upsized First Lien Term Loan, 4.750%, 10/31/20   2,040,956    0.2 
 575,000      Omnitracs Inc., Upsized Second Lien Term Loan, 8.750%, 04/30/21   582,906    0.1 
 4,812,233      Open Link Financial, Inc., Term Loan, 6.250%, 10/30/17   4,842,309    0.5 
 8,323,278      RedPrairie Corporation, First Lien Term Loan, 6.000%, 12/21/18   8,321,197    0.9 
 2,374,194      RedPrairie Corporation, Second Lien Term Loan, 11.250%, 12/20/19   2,385,324    0.3 
 5,013      Spansion LLC, Term Loan B, 3.750%, 12/18/19   5,019    0.0 
 2,155,282      Web.com Group, Inc., Term Loan, 4.500%, 10/27/17   2,175,488    0.3 
 1,105,263      Websense, Inc., Second Lien Term Loan, 8.250%, 12/27/20   1,112,862    0.1 
 2,282,750      Websense, Inc., Term Loan B, 4.500%, 06/25/20   2,295,116    0.3 
            143,827,662    16.1 
                   
        Equipment Leasing: 0.4%          
 3,286,423      Brock Holdings, Inc., New Term Loan B, 6.000%, 03/16/17   3,298,214    0.4 
                   
        Financial Intermediaries: 1.8%          
 1,741,234      Duff & Phelps, Add-On Term Loan, 4.500%, 04/23/20   1,748,852    0.2 
 1,940,250      Guggenheim Partners Investment Management Holdings, LLC, Term Loan B, 4.250%, 07/31/20   1,950,558    0.2 
 1,262,250      MoneyGram International, Inc., Term Loan B, 4.250%, 03/27/20   1,244,642    0.1 
 3,391,500      Santander Asset Management, Term Loan B-1 USD, 4.250%, 11/30/20   3,399,979    0.4 
EUR  997,500      Santander Asset Management, Term Loan B-2 EURO, 4.500%, 11/30/20   1,366,881    0.1 
 5,300,000      Trans Union LLC, Term Loan B, 4.000%, 03/21/21   5,295,861    0.6 
 1,476,300      Walker & Dunlop, Term Loan, 5.500%, 12/15/20   1,502,135    0.2 
            16,508,908    1.8 
                   
        Food Products: 4.4%          
 6,428,725      Advance Pierre Foods, First Lien Term Loan B, 5.750%, 07/10/17   6,428,725    0.7 
 4,500,000      Advance Pierre Foods, Second Lien Term Loan, 9.500%, 10/10/17   4,372,502    0.5 
 3,540,904      Atkins Nutritionals Holdings II, Inc., First Lien Term Loan, 6.250%, 01/02/19   3,549,756    0.4 
EUR365,724      Atrium Innovations, Inc., EUR First Lien Term Loan, 4.500%, 02/04/21   497,914    0.1 
 500,000      Atrium Innovations, Inc., USD First Lien Term Loan, 4.250%, 02/04/21   496,407    0.0 
 3,551,938   (1)  CSM Bakery Supplies, First Lien Term Loan, 4.750%, 07/03/20   3,576,801    0.4 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Food Products: (continued)          
 1,000,000      CSM Bakery Supplies, Second Lien Term Loan, 8.500%, 06/30/21  $1,020,000    0.1 
EUR  6,500,000      D.E. Master Blenders, Term Loan B2, 4.500%, 10/01/18   8,905,335    1.0 
 1,097,250      Del Monte Foods Consumer Products, Inc., First Lien, 4.250%, 01/15/21   1,098,073    0.1 
 1,700,000   (1)  Del Monte Foods Consumer Products, Inc., Second Lien, 8.250%, 07/15/21   1,685,125    0.2 
 5,033,012   (1)  NPC International , Term Loan, 4.000%, 12/28/18   5,036,157    0.6 
 990,000      Reddy Ice Corporation, First Lien Term Loan, 6.751%, 04/01/19   977,006    0.1 
GBP  1,000,000      United Biscuits Holdco Limited, Facility B1 (GBP), 4.988%, 07/31/20   1,689,627    0.2 
            39,333,428    4.4 
                   
        Food Service: 1.8%          
 5,850,000   (1)  CEC Entertainment, Inc., First Lien Term Loan, 4.250%, 02/14/21   5,810,998    0.6 
 1,297,759      Hearthside Food Solutions, LLC, Term Loan, 6.500%, 06/07/18   1,301,003    0.1 
 4,912,111      Landry's Restaurants, Term Loan, 4.000%, 04/24/18   4,928,228    0.6 
 4,093,238      P.F. Chang's China Bistro, Inc., Term Loan, 4.250%, 06/30/19   4,090,680    0.5 
            16,130,909    1.8 
                   
        Food/Drug Retailers: 0.8%          
 2,365,119   (1)  Del Taco, Term Loan, 5.504%, 10/01/18   2,376,944    0.3 
 1,950,000      Roundys Supermarkets, Inc., Term Loan B, 5.750%, 02/20/21   1,956,907    0.2 
 1,916,105      Vestcom International, Inc., Term Loan, 5.513%, 12/26/18   1,920,895    0.2 
 500,000      WIS International, Second Lien, 10.250%, 06/01/19   500,000    0.1 
            6,754,746    0.8 
                   
        Forest Products: 0.1%          
 742,500      Xerium Technologies, Inc., Term Loan B, 5.750%, 05/01/19   748,687    0.1 
                   
        Health Care: 14.2%          
 5,450,000   (1)  Accellent, Inc., First lien term loan, 4.500%, 03/01/21   5,428,712    0.6 
 1,000,000   (1)  Accellent, Inc., Second lien term loan, 7.500%, 03/01/22   993,750    0.1 
 1,375,000      Aegis Sciences, First Lien Term Loan, 5.500%, 02/19/21   1,390,469    0.2 
 1,259,063      ATI Physical Therapy, Term Loan B, 5.000%, 12/20/19   1,274,014    0.1 
 1,652,218      BSN Medical, Term Loan B1B, 4.000%, 08/28/19   1,654,972    0.2 
 1,200,000      CareCore National, LLC, Term Loan B, 5.500%, 02/20/21   1,209,000    0.1 
 3,751,101      Catalent Pharma Solutions, Inc., USD term loan, 4.500%, 05/08/21   3,773,078    0.4 
 3,064,280      CHG Medical Staffing, Inc., New First Lien Term, 4.250%, 11/19/19   3,065,557    0.3 
 1,717,989   (1)  CHG Medical Staffing, Inc., Upsized Second Lien Term Loan, 9.000%, 11/19/20   1,749,485    0.2 
 2,693,250      CHS/Community Health Systems, Inc., Term Loan D, 4.250%, 01/27/21   2,711,766    0.3 
 2,719,667   (1)  Connolly / iHealth Technologies, First Lien, 5.000%, 05/12/21   2,740,064    0.3 
 2,000,000      Connolly / iHealth Technologies, Second Lien, 8.000%, 05/12/22   2,030,000    0.2 
 3,757,029      DJO Finance LLC, First Lien term Loan, 4.250%, 09/05/17   3,772,879    0.4 
 3,233,750      Envision Pharmaceutical Services, First Lien Term Loan, 5.750%, 11/04/20   3,258,003    0.4 
 1,414,313      Harvard Drug Group LLC, Term Loan B-1, 5.000%, 08/15/20   1,422,931    0.2 
 6,170,616      Iasis Healthcare LLC, Term B-2, 4.500%, 05/03/18   6,185,271    0.7 
 4,675,000      Ikaria Acquisition Inc., First Lien Term Loan, 5.000%, 02/05/21   4,703,733    0.5 
 1,350,000      Ikaria Acquisition Inc., Second Lien Term Loan, 8.750%, 02/05/22   1,372,275    0.2 
 4,875,966      Immucor, Inc., Term B-2 Loan, 5.000%, 08/17/18   4,888,156    0.6 
 8,761,695      Kinetic Concepts, Inc., E-1, 4.000%, 05/04/18   8,780,471    1.0 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Health Care: (continued)          
 2,250,000      Medpace Holdings, Inc., Term loan B, 5.000%, 04/05/21  $2,258,438    0.3 
 5,510,313      MedSolutions Holdings, Inc., Term Loan B, 6.500%, 07/08/19   5,544,752    0.6 
 7,500,000      Millennium Laboratories, LLC, Term Loan B, 5.250%, 04/15/21   7,556,250    0.9 
 3,436,208      Multiplan, Inc, Term loan, 4.000%, 04/01/21   3,426,185    0.4 
 7,102,493      Onex Carestream Finance LP, First Lien, 5.000%, 06/07/19   7,133,566    0.8 
 2,942,245      Onex Carestream Finance LP, Second Lien, 9.500%, 11/30/19   3,008,446    0.3 
 1,000,000      Packaging Coordinators, Inc., Delayed Draw Term Loan, 5.503%, 05/10/20   1,000,000    0.1 
 5,007,855      Par Pharmaceutical Companies, B-2, 4.000%, 09/28/19   5,004,725    0.6 
 5,279,175      Pharmaceutical Product Development, Inc., Term Loan B-1, 4.000%, 12/05/18   5,290,726    0.6 
 2,071,396      Press Ganey, First Lien, 4.250%, 04/20/18   2,077,546    0.2 
 2,860,408      Progressive Solutions, Inc., First Lien, 5.500%, 10/22/20   2,876,498    0.3 
 2,960,392      Quintiles Transnational Corp., B-3, 3.750%, 06/08/18   2,965,327    0.3 
 1,842,998      Surgical Care Affiliates LLC, Class C Term Loan, 4.000%, 06/29/18   1,840,095    0.2 
 544,500      Truven Health, Inc., Term Loan B, 4.500%, 05/23/19   540,757    0.1 
 5,618,374      United Surgical Partners International, Inc., Incremental Term Loan, 4.750%, 04/03/19   5,665,192    0.6 
 7,950,518      Valeant Pharmaceuticals International, Inc., Series E-1 Tranche B, 3.750%, 08/05/20   7,951,066    0.9 
            126,544,155    14.2 
                   
        Home Furnishings: 1.7%          
 8,829,111      AOT Bedding Super Holdings, LLC, Term Loan B, 4.250%, 10/01/19   8,853,249    1.0 
 2,882,189      Hillman Group (The), Inc., Term Loan B, 3.750%, 05/28/17   2,886,994    0.3 
 1,334,310      Hunter Fan Company, First Lien Term Loan, 6.500%, 12/31/17   1,335,978    0.2 
 1,984,925      Monitronics International, Inc., Term Loan B, 4.250%, 03/23/18   1,989,474    0.2 
            15,065,695    1.7 
                   
        Industrial Equipment: 6.7%          
 5,606,306      Accudyne Industries LLC, Term Loan, 4.000%, 12/13/19   5,612,731    0.6 
 2,429,384      Alliance Laundry Systems LLC, First Lien Term Loan, 4.500%, 12/10/18   2,439,508    0.3 
 1,333,176      Ameriforge Group Inc., Upsized First Lien Term Loan, 5.000%, 12/19/19   1,339,842    0.2 
 582,500      Ameriforge Group Inc., Upsized Second Lien Term Loan, 8.750%, 12/19/20   594,150    0.1 
 1,534,500      Apex Tool Group, Term Loan B, 4.500%, 01/31/20   1,502,851    0.2 
 1,765,575      Aquilex LLC (a.k.a Hydrochem), Term Loan, 5.000%, 12/31/20   1,775,506    0.2 
 1,057,228      CeramTec GmbH, Dollar Term B-1 Loan, 4.250%, 08/30/20   1,059,430    0.1 
 104,775      CeramTec GmbH, Dollar Term B-2 Loan, 4.250%, 08/30/20   104,993    0.0 
 320,479      CeramTec GmbH, Dollar Term B-3 Loan, 4.250%, 08/30/20   321,146    0.0 
EUR  690,097      CeramTec GmbH, Euro Term B-1 Loan, 4.750%, 08/30/20   950,112    0.1 
EUR  209,903      CeramTec GmbH, Euro Term B-2 Loan, 4.750%, 08/30/20   288,991    0.0 
 4,574,000   (1)  Doncasters Group Limited, First Lien Term Loan USD, 4.500%, 04/09/20   4,586,867    0.5 
 688,275      Filtration Group Corporation, First Lien Term Loan, 4.500%, 11/30/20   694,470    0.1 
EUR  3,411,429      Gardner Denver, Inc., Term Loan B Euro, 4.750%, 07/30/20   4,688,486    0.5 
 5,223,750      Gardner Denver, Inc., Term Loan B USD, 4.250%, 07/30/20   5,226,362    0.6 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Industrial Equipment: (continued)          
 6,746,100      Harvey Gulf International Marine, LLC, Upsized Term Loan B, 5.500%, 06/15/20  $6,678,639    0.8 
 2,732,727      International Equipment Solutions, LLC, Term Loan, 6.750%, 08/31/19   2,751,515    0.3 
 6,203,825      Rexnord Corporation / RBS Global, Inc., First Lien Term Loan, 4.000%, 08/30/20   6,199,948    0.7 
 2,400,000      Sensus Metering Systems Inc., New Second Lien Term Loan, 8.500%, 05/09/18   2,413,500    0.3 
 410,813      Sensus Metering Systems Inc., Upsized First Lien Term Loan, 4.750%, 05/09/17   412,182    0.0 
 5,000,000   (1)  Signode Industrial Group, US Dollar Tranche Term Loan, 4.000%, 05/01/21   4,994,530    0.6 
 900,000      SunSource, First Lien Term Loan, 4.750%, 02/15/21   903,094    0.1 
EUR  1,129,068      Terex Corporation, Term Loan Euro Tranche, 4.000%, 04/28/17   1,558,327    0.2 
 1,100,000      VAT Holding, Term Loan B, 4.750%, 02/28/21   1,108,250    0.1 
 917,700      WTG Holdings III Corp., First Lien Term Loan, 4.750%, 01/15/21   919,994    0.1 
 325,000      WTG Holdings III Corp., Second Lien Term Loan, 8.500%, 01/15/22   327,438    0.0 
            59,452,862    6.7 
                   
        Leisure Good/Activities/Movies: 3.6%          
 4,500,000   (1)  24 Hour Fitness Worldwide, Inc, Term Loan B, 05/15/21   4,522,500    0.5 
 5,880,748      Delta2 Sarl Luxembourg (Formula One World Championship), Term Loan B, 4.500%, 04/30/19   5,929,265    0.7 
 2,970,000      Equinox Holdings, Inc., First Lien Term Loan, 4.251%, 01/31/20   2,973,713    0.3 
 6,513,813      FGI Operating, Fungible Term Loan B AddOn, 5.500%, 04/19/19   6,587,094    0.8 
 285,714      NEP/NCP Holdco, Inc., Second Lien, 9.500%, 07/23/20   294,821    0.0 
 3,393,500   (1)  NEP/NCP Holdco, Inc., Term Loan B with Add-On, 4.250%, 01/22/20   3,399,014    0.4 
 2,943,266      SRAM, LLC, First Lien Term Loan, 4.006%, 04/10/20  2,921,191    0.3 
 2,950,000   (1)  TWCC Holding Corporation, Second Lien Term Loan, 7.000%, 06/26/20   2,929,105    0.3 
 2,550,563      Wilton Brands, Inc., Term Loan, 7.500%, 08/31/18   2,461,294    0.3 
            32,017,997    3.6 
                   
        Lodging & Casinos: 6.1%          
 1,329,950      American Casino and Entertainment Properties LLC, First Lien Term Loan, 4.500%, 07/02/19   1,338,262    0.2 
 2,910,833      Boyd Gaming Corporation, Term Loan B, 4.000%, 08/14/20   2,918,716    0.3 
 4,364      Caesars Entertainment Operating Company, Inc., Term Loan B4 (Incremental), 9.500%, 10/31/16   4,392    0.0 
 1,984      Caesars Entertainment Resort Properties, LLC, Term Loan, 7.000%, 10/15/20   1,983    0.0 
 3,170,394   (1)  Centaur Acquisition, LLC, First Lien Term Loan, 5.250%, 02/21/19   3,180,796    0.4 
 500,000      Centaur Acquisition, LLC, Second Lien Term Loan, 8.750%, 02/21/20   508,750    0.1 
 4,987,500      CityCenter Holdings, LLC, Term Loan, 5.000%, 10/15/20   5,030,517    0.6 
 535,170   ^,(2),(3)  Fontainebleau Las Vegas, LLC, Delayed Draw Term Loan, 06/06/14   120,413    0.0 
 1,070,339   ^,(2),(3)  Fontainebleau Las Vegas, LLC, Term Loan, 06/06/14   240,826    0.0 
 1,533,656      Golden Nugget, Inc., Delayed Draw Term Loan, 5.500%, 11/21/19   1,572,938    0.2 
 3,578,531      Golden Nugget, Inc., Term Loan, 5.500%, 11/21/19   3,670,188    0.4 
 800,000      Horseshoe Baltimore, Funded Term Loan B, 8.250%, 07/02/20   830,000    0.1 
 4,000,000      La Quinta, First Lien Term Loan, 4.000%, 03/01/21   4,005,000    0.4 
 2,962,500      Peppermill Casinos, Inc., Term Loan B, 7.250%, 11/09/18   3,040,266    0.3 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Lodging & Casinos: (continued)          
EUR  1,250,000      Scandic Hotels AB, Term Loan B2B, 4.399%, 01/31/17  $1,707,843    0.2 
EUR1,250,000      Scandic Hotels AB, Term Loan C2B, 4.399%, 01/31/17   1,707,843    0.2 
 11,975,000   (1)  Scientific Games International, Inc., Term Loan B, 4.250%, 09/30/20   11,919,616    1.3 
 6,951,426      Station Casinos LLC, Term Loan, 4.250%, 02/28/20   6,970,508    0.8 
 1,268,625      Tropicana Entertainment Inc. , Term Loan, 4.000%, 12/01/20   1,273,382    0.1 
 3,500,000   (1)  Twin River Management Group, Inc., Term Loan B, 5.250%, 06/30/20   3,494,166    0.4 
 605,000      Twin River Management Group, Inc., Term Loan B, 5.250%, 11/09/18   602,353    0.1 
            54,138,758    6.1 
                   
        Nonferrous Metals/Minerals: 1.3%          
 6,281,467      Fairmount Minerals, Ltd., Tranche B-2 Term Loans, 4.500%, 09/01/19   6,356,060    0.7 
 5,200,000      Minerals Technologies, Senior Secured Term Loan, 4.000%, 04/18/21   5,226,000    0.6 
 498,750      TMS International, Term B Loan, 4.500%, 11/01/20   500,412    0.0 
            12,082,472    1.3 
                   
        Oil & Gas: 0.9%          
 4,172,192      Bronco Midstream Funding, LLC, Term Loan, 5.000%, 08/15/20   4,203,484    0.5 
 475,372      Crestwood Holdings LLC, Term Loan, 7.000%, 05/30/19   484,137    0.0 
 3,619,613      FTS International, Inc. (fka FracTech), Term Loan, 5.750%, 04/30/21   3,650,832    0.4 
            8,338,453    0.9 
                   
        Publishing: 4.7%          
 688,807      Caribe Media Inc., Term Loan, 10.000%, 11/18/14   668,143    0.1 
 5,100,000   (1)  Cengage Learning Acquisition, Inc., First Lien Term Loan, 7.000%, 03/31/20   5,193,233    0.6 
 779,151      Dex Media East, LLC, Term Loan, 6.000%, 12/30/16   627,703    0.1 
 2,600,894      Dex Media West, LLC, Term Loan, 8.000%, 12/30/16   2,350,558    0.3 
 2,000,000   (1)  Flint Group Holdings S.A.R.L., Second Lien, 04/30/22   2,009,166    0.2 
 2,991,279   (1)  Flint Group Holdings S.A.R.L., USD TL B1, 5.584%, 04/30/21   2,988,476    0.3 
 913,256   (1)  Flint Group Holdings S.A.R.L., USD TL B2, 5.584%, 04/30/21   912,400    0.1 
 645,465   (1)  Flint Group Holdings S.A.R.L., USD TL C, 5.584%, 04/30/21   644,860    0.1 
 347,312      HIBU PLC (fka Yell Group PLC), Facility A2, 5.253%, 03/18/19   289,137    0.0 
EUR  40,725   X  HIBU PLC (fka Yell Group PLC), Spanish facility, 03/18/19   –    0.0 
 1,694,334      McGraw Hill Global Education, TLB, 5.750%, 03/22/19   1,721,867    0.2 
 1,216,316      Merrill Communications, LLC, Term Loan B, 5.750%, 03/08/18   1,230,760    0.1 
 1,654,115      Nelson Canada, First Lien-C$ 330 mm, 2.810%, 07/03/14   1,354,996    0.2 
 3,084,500      Penton Media, Inc., First Lien, 5.500%, 09/30/19   3,119,201    0.3 
 1,250,000      Penton Media, Inc., Second Lien, 9.000%, 09/30/20   1,262,500    0.1 
 2,622,289      R.H. Donnelley Corporation, Term Loan, 9.750%, 12/31/16   1,806,101    0.2 
 5,462,500      Springer Science + Business Media S.A., Initial Term B2 Loan, 5.000%, 08/01/20   5,472,742    0.6 
 4,711,921      SuperMedia, Inc., Term Loan, 11.600%, 12/30/16   3,934,454    0.4 
 6,715,625      Tribune Company, Term Loan B, 4.000%, 12/31/20   6,718,775    0.8 
            42,305,072    4.7 
                   
        Radio & Television: 4.4%          
 13,921,330   (1)  Clear Channel Communications, Inc., TLE, 7.650%, 07/30/19   13,953,237    1.6 
 5,432,539      Cumulus Media Holdings Inc., Term Loan, 4.250%, 12/23/20   5,452,064    0.6 
 802,162      Gray Television, Inc., Term Loan B, 4.500%, 10/31/19   804,669    0.1 
 471,530      Hubbard Radio LLC, Tranche 1 Term Loan, 4.500%, 04/29/19   473,593    0.0 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)       
        Radio & Television: (continued)          
 1,271,813      Learfield Communications, Inc, First Lien Term Loan, 4.500%, 10/08/20  $1,282,941    0.1 
 500,000   (1)  Learfield Communications, Inc., Second Lien Term Loan, 8.750%, 10/08/21   510,312    0.1 
 2,319,209      Media General, Inc., DDTerm Loan-B, 4.250%, 07/31/20   2,335,140    0.3 
 1,685,833      Salem Communications Corporation, Term Loan B, 4.500%, 03/31/20   1,684,254    0.2 
 4,640,625      Univision Communications, Inc., Term Loan-C3, 4.000%, 03/01/20   4,632,889    0.5 
 8,355,272      Univision Communications, Inc., Term Loan-C4, 4.000%, 03/01/20   8,339,606    0.9 
            39,468,705    4.4 
                   
        Retailers (Except Food & Drug): 14.6%          
 4,881,178      99 Cents Only Stores, Term Loan Facility, 4.500%, 01/15/19   4,907,619    0.6 
 5,865,675      Academy Ltd., Term Loan (2012 refi), 4.500%, 08/03/18   5,889,965    0.7 
EUR  2,285,000      Action Holding B.V., Facility C, 5.313%, 03/08/19   3,154,708    0.4 
GBP  3,000,000      B&M Retail Ltd, Facility B, 5.737%, 02/28/20   5,030,899    0.6 
 15,842,129      BJs Wholesale Club, First Lien Term Loan, 4.500%, 09/26/19   15,881,670    1.8 
 4,000,000      BJs Wholesale Club, Second Lien Term Loan, 8.500%, 03/26/20   4,121,500    0.5 
 5,242,493      Burlington Coat Factory, Term Loan B2, 4.250%, 02/23/17   5,287,547    0.6 
 5,368,557      Harbor Freight Tools USA, Inc., Term Loan, 4.750%, 07/26/19   5,408,788    0.6 
 9,955,921      Hudson's Bay Company, Term Loan, 4.750%, 10/15/20   10,065,128    1.1 
 2,000,000      J. Crew, TLB, 4.080%, 03/01/21   1,991,750    0.2 
 1,800,000      Lands' End, Inc., TLB, 4.250%, 03/17/21   1,800,281    0.2 
 4,847,000      Leslies Poolmart, Inc., Term Loan, 4.250%, 10/16/19   4,845,488    0.5 
 5,500,000   (1)  Men's Wearhouse, Term Loan, 07/01/21   5,515,785    0.6 
 4,000,000      National Vision, Inc., First Lien Term Loan, 4.000%, 03/13/21   3,973,332    0.4 
 1,300,000      National Vision, Inc., Second Lien Term Loan, 6.750%, 03/13/22   1,299,187    0.1 
 10,920,100      Neiman Marcus Group, Inc, Term Loan, 4.250%, 10/31/20   10,911,757    1.2 
 6,031,702      Ollie's Holdings, Inc., Term Loan, 4.753%, 09/28/19   6,031,702    0.7 
 5,579,442      OneStopPlus, First Lien Term Loan, 4.500%, 03/15/21   5,649,185    0.6 
 5,887,838      Party City Holdings Inc, Term Loan B, 4.000%, 07/29/19   5,875,574    0.7 
 2,275,000      Payless ShoeSource, First Lien Term Loan, 5.000%, 03/05/21   2,282,583    0.3 
 2,723,589      Pep Boys, Term Loan B, 4.250%, 10/11/18   2,737,174    0.3 
 6,288,240      Savers, Term Loan B, 5.000%, 07/09/19   6,319,681    0.7 
 2,645,614      Sleepy's Holdings, LLC, Term Loan, 5.000%, 03/30/19   2,648,921    0.3 
 1,170,000      Stuart Weitzman Holdings, LLC, Term Loan, 4.500%, 03/05/20   1,165,612    0.1 
 1,750,000      Talbots Inc. (The), First Lien Term Loan, 4.750%, 03/20/20   1,741,250    0.2 
 6,855,508      Toys "R" Us, Inc., Term Loan B-1, 6.000%, 09/01/16   5,787,194    0.6 
            130,324,280    14.6 
                   
        Steel: 1.1%          
 9,640,585      FMG Resources (August 2006) Pty Ltd., Term Loan, 3.750%, 06/30/19   9,641,337    1.1 
                   
        Surface Transport: 0.9%          
 2,765,105      Baker Tanks, Inc., Term Loan, 4.250%, 02/15/20   2,732,269    0.3 
 3,281,177      Wabash National Corporation, Term Loan B, 4.500%, 05/15/19   3,289,380    0.4 
 1,995,000      YRC Worldwide Inc., First Lien Term Loan, 8.000%, 02/28/19   2,004,975    0.2 
            8,026,624    0.9 
                   
        Telecommunications: 7.1%          
 2,778,741   (1)  Alcatel-Lucent, US Term Loan, 4.500%, 01/30/19   2,788,583    0.3 
 9,517,166      Asurion, LLC, Incremental Tranche B-1 Term Loan, 5.000%, 05/24/19   9,554,045    1.1 
 1,750,000      Asurion, LLC, Second Lien Term Loan, 8.500%, 02/28/21   1,798,125    0.2 

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

Principal
Amount†		      Borrower/Tranche
Description		  Fair Value   Percentage
of Net
Assets		 
SENIOR LOANS*: (continued)          
        Telecommunications: (continued)          
 5,813,951      Avaya Inc., Term B-3 Loan, 4.727%, 10/26/17  $5,638,724    0.6 
 4,140,542      Avaya Inc., Term B-6 Loan, 6.500%, 03/31/18   4,121,782    0.5 
 3,960,075      Consolidated Communications, Inc., Term Loan B, 4.250%, 12/19/20   3,985,443    0.4 
 4,187,846      Global Tel*Link Corporation, First Lien Term Loan, 5.000%, 05/23/20   4,170,048    0.5 
 1,700,000      Global Tel*Link Corporation, Second Lien Term Loan, 9.000%, 11/23/20   1,690,084    0.2 
 2,679,341      Hawaiian Telcom Communications, Inc., Term Loan B, 5.000%, 06/06/19   2,693,407    0.3 
 3,300,000      Level 3 Financing, Inc., Term Loan B-4, 4.000%, 01/15/20   3,312,375    0.4 
 3,821,125      Lightower Fiber Networks, First Lien Term Loan, 4.000%, 04/13/20   3,812,336    0.4 
 2,004,925      Securus Technologies, Inc., Upsized First Lien Term Loan, 4.750%, 04/30/20   2,005,426    0.2 
 3,052,127      Syniverse Holdings, Inc., Initial Term Loan, 4.000%, 04/23/19   3,054,990    0.3 
 5,960,080      U.S. Telepacific Corp, First Lien Term Loan, 5.750%, 02/23/17   5,994,350    0.7 
 1,925,000      XO Communications, First Lien Term Loan, 4.250%, 03/19/21   1,934,625    0.2 
 7,142,985   (1)  Zayo Group, LLC, Term Loan B, 4.000%, 07/02/19   7,141,706    0.8 
            63,696,049    7.1 
                   
        Utilities: 0.9%          
 2,600,000      Atlantic Power Limited Partnership, Term Loan, 4.750%, 02/28/21   2,622,750    0.3 
 183,291   ^,(2),(3)  Longview Power, LLC, DIP Facility, 2.700%, 11/19/16   302,430    0.0 
 3,736,640   ^,(2),(3)  Longview Power, LLC, Extended Term Loan, 10/31/17   2,456,841    0.3 
 2,583,525      Utility Services Associates, Term Loan, 6.750%, 10/18/19   2,602,901    0.3 
            7,984,922    0.9 
     Total Senior Loans          
     (Cost $1,222,733,574)   1,224,768,288    137.1 
      
OTHER CORPORATE DEBT: –%     
        Publishing: –%          
 639,053   X  HIBU PLC (fka Yell Group PLC), Facility B2, 03/18/24  –    0.0  
                   
     Total Other Corporate Debt          
     (Cost $189,309)  –    0.0  

 

Shares         Value   Percentage
of Net
Assets		 
EQUITIES AND OTHER ASSETS: 0.8%          
 154   @,X  AR Broadcasting (Warrants)   –    0.0 
 888,534   @,R,X  Ascend Media (Residual Interest)   –    0.0 
 3,160   @,X  Caribe Media Inc.   –    0.0 
 178,416   @  Cengage Learning   6,244,560    0.7 
 14,294   @  Dex Media Inc.   141,797    0.0 
 246,734   @,X  Eagle Topco 2013 Limited   –    0.0 
 8   @,X  Faith Media Holdings, Inc. (Residual Interest)   130,692    0.0 
 92,471   @  Glodyne Techoserve, Ltd.   10,845    0.0 
 498,762   @,X  GTS Corp.   –    0.0 
 31,238   @  Hawaiian Telcom   872,477    0.1 
 291   @,R,X  Lincoln Paper & Tissue, LLC   –    0.0 
 5,933,580   R,X  Lincoln Pulp and Eastern Fine (Residual Interest in Bankruptcy Estate)   –    0.0 
 106,702   @,X  Northeast Biofuels (Residual Interest)   –    0.0 
 19,404   @,X  U.S. Shipping Partners, L.P.   –    0.0 
 275,292   @,X  U.S. Shipping Partners, L.P. (Contingency Rights)   –    0.0 
    Total Equities and Other Assets          
     (Cost $7,800,065)   7,400,371    0.8 
                   
     Total Investments
(Cost $1,230,722,948)		  $1,232,168,659    137.9 
     Liabilities in Excess of Other Assets   (338,709,489)   (37.9) 
     Net Assets  $893,459,170    100.0 

 

* Senior loans, while exempt from registration under the Securities Act of 1933, as amended, contain certain restrictions on resale and cannot be sold publicly. These senior loans bear interest (unless otherwise noted) at rates that float periodically at a margin above the London Inter-Bank Offered Rate (“LIBOR”) and other short-term rates.
† Unless otherwise indicated, principal amount is shown in USD.
@ Non-income producing security
   
R Restricted Security

 

 
 

  

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

  

X Fair value determined by Voya funds Valuation Committee appointed by the Board of Directors/Trustees.
^ This Senior Loan Interest is non-income producing.
(1) Senior loans purchased on a when-issued or delayed-delivery basis. Contract rates that are not disclosed do not take effect until settlement date and have yet to be determined.
(2) The borrower filed for protection under Chapter 11 of the U.S. Federal Bankruptcy code.
(3) Loan is on non-accrual basis.

 

EUR EU Euro
GBP British Pound

 

Cost for federal income tax purposes is $1,230,829,473.

 

Net unrealized appreciation consists of:

 

Gross Unrealized Appreciation  $10,518,712 
Gross Unrealized Depreciation   (9,179,526)
      
Net Unrealized Appreciation  $1,339,186 

 

Fair Value Measurements

 

The following is a summary of the fair valuations according to the inputs used as of May 31, 2014 in valuing the assets and liabilities:

  

   Quoted Prices
in Active Markets
for Identical
Investments
(Level 1)		   Significant
Other
Observable
Inputs 
(Level 2)		   Significant
Unobservable
Inputs
(Level 3)		   Fair Value
at
May 31, 2014		 
Asset Table                    
Investments, at fair value                    
Equities and Other Assets  $7,258,834   $10,845   $130,692   $7,400,371 
Other Corporate Debt   –    –    –    – 
Senior Loans   –    1,224,768,288    –    1,224,768,288 
Total Investments, at fair value  $7,258,834   $1,224,779,133   $130,692   $1,232,168,659 
Other Financial Instruments+                    
Forward Foreign Currency Contracts   –    705,868    –    705,868 
Unfunded commitments   –    277,991    –    277,991 
Total Assets  $7,258,834   $1,225,762,992   $130,692   $1,233,152,518 

 

+ Other Financial Instruments are derivatives not reflected in the Portfolio of Investments and may include open forward foreign currency contracts and unfunded commitments which are fair valued at the unrealized gain (loss) on the instrument.

  

At May 31, 2014, the following forward foreign currency contracts were outstanding for the Voya Prime Rate Trust:

 

Counterparty  Currency  Contract Amount   Buy/Sell  Settlement Date  In Exchange For   Fair Value   Unrealized
Appreciation
(Depreciation)		 
                          
State Street Bank  EU Euro   41,235,000   Sell  06/20/14  $56,824,612   $56,207,620   $616,992 
State Street Bank  British Pound   10,547,000   Sell  06/20/14   17,765,472    17,676,596    88,876 
                           $705,868 

 

 
 

 

  PORTFOLIO OF INVESTMENTS
Voya Prime Rate Trust as of May 31, 2014 (Unaudited) (Continued)

 

The following unfunded commitments were outstanding as of May 31, 2014:

 

Borrower  Principal Amount   Fair Value   Unrealized Appreciation/(Depreciation) 
Longview Power, LLC, DIP Facility  $183,291   $427,678   $277,991 

  

A summary of derivative instruments by primary risk exposure is outlined in the following tables.

 

The fair value of derivative instruments as of May 31, 2014 was as follows:

 

Derivatives not accounted for as hedging instruments 

 

   Location on Statement    
  of Assets and Liabilities  Fair Value 
        
Asset Derivatives        
         
Foreign exchange contracts  Unrealized appreciation on forward foreign currency contracts  $705,868 
Total Asset Derivatives     $705,868 

   

Amount of Realized Gain or (Loss) on Derivatives Recognized in Income

 

Derivatives not accounted for as hedging instruments

 

  Foreign currency related
transactions*		 
     
Foreign exchange contracts  $(1,184,598)
Total  $(1,184,598)

 

Change in Unrealized Appreciation or (Depreciation) on Derivatives Recognized in Income

 

Derivatives not accounted for as hedging instruments

 

  Foreign currency related
transactions*		 
     
Foreign exchange contracts  $2,004,801 
Total  $2,004,801 

 

* Amounts recognized for forward foreign currency contracts are included in net realized gain (loss) on foreign currency related transactions and net change in unrealized appreciation or depreciation on foreign currency related transactions.

 

The following is a summary by counterparty of the fair value of OTC derivative instruments subject to Master Netting Agreements and collateral pledged (received), if any, at May 31, 2014:

  

   State Street Bank 
Assets:     
Forward foreign currrency contracts  $705,868 
Total Assets  $705,868 
      
Net OTC derivative instruments by counterparty, at fair value  $705,868 
      
Total collateral pledged by the Trust/(Received from counterparty)  $- 
      
Net Exposure(1)  $705,868 

 

(1) Positive net exposure represents amounts due from each respective counterparty. Negative exposure represents amounts due from the Trust. Please refer to Note 2 for additional details regarding counterparty credit risk and credit related contingent features.

 

 
 

  

Item 2. Controls and Procedures.

 

(a)Based on our evaluation conducted within 90 days of the filing date, hereof, the design and operation of the registrant’s disclosure controls and procedures are effective to ensure that material information relating to the registrant is made known to the certifying officers by others within the appropriate entities, particularly during the period in which Forms N-Q are being prepared, and the registrant’s disclosure controls and procedures allow timely preparation and review of the information for the registrant’s Form N-Q and the officer certifications of such Form N-Q.

 

(b)There were no significant changes in the registrant’s internal controls over financial reporting that occurred during the registrant’s last fiscal quarter of the period covered by this report that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting.

 

Item 3. Exhibits.

 

A separate certification for each principal executive officer and principal financial officer of the registrant as required by Rule 30a-2 under the Act (17 CFR 270.30a-2) is attached hereto as EX-99.CERT.

 

 
 

 

 

SIGNATURES

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

(Registrant): Voya Prime Rate Trust
     
By /s/ Shaun P. Mathews  
  Shaun P. Mathews  
  President and Chief Executive Officer  
     
Date: July 25, 2014  

 

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By /s/ Shaun P. Mathews  
  Shaun P. Mathews  
  President and Chief Executive Officer  
     
Date: July 25, 2014  
     
By /s/ Todd Modic  
  Todd Modic  
  Senior Vice President and Chief Financial Officer  
     
Date: July 25, 2014