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Three Nuveen funds plan to redeem in full MuniFund term preferreds
By Marisa Wong
Madison, Wis., Nov. 19 – Nuveen Investments said that the board of trustees of three Nuveen municipal bond closed-end funds has approved a refinancing plan to redeem all of their respective MuniFund term preferred shares.
The funds intending to redeem their preferreds are the Nuveen California AMT-Free Municipal Income Fund (NKX PrC) the Nuveen Missouri Premium Income Municipal Fund (NOM PrC) and the Nuveen New Jersey Dividend Advantage Municipal Fund (NXJ PrC).
The preferreds will be redeemed at their $10.00 liquidation value per share plus an additional amount representing any dividend amount owed.
The redemption will be made with the proceeds of newly issued preferred shares, subject to the completion of the planned placements.
Nuveen is a Chicago-based investment services company.
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