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American Municipal redeems all of its remarketed preferred shares
By Tali Rackner
Norfolk, Va., May 9 - The American Municipal Income Portfolio Inc. redeemed all of its outstanding remarketed preferred shares, according to a press release.
As previously announced, the fund completed the private placement of variable-rate MuniFund term preferred shares on April 1 to generate cash proceeds to fund the redemption.
First American Minnesota Municipal Income Fund II, Inc. redeemed its outstanding auction-rate preferred shares on May 2, and the Minnesota Municipal Income Portfolio Inc. completed the redemption of its remarketed preferred shares on Thursday.
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