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First American Minnesota redeems all of its auction preferred shares
By Tali Rackner
Norfolk, Va., May 2 - First American Minnesota Municipal Income Fund II, Inc. announced that it has completed the redemption of all of its outstanding auction preferred shares, according to a press release.
As previously reported, the fund completed the private placement of variable-rate MuniFund term preferred shares to generate cash proceeds to fund the redemption.
The Minnesota Municipal Income Portfolio Inc. and American Municipal Income Portfolio Inc. plan to complete their redemptions on May 8 and May 9, respectively.
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