E-mail us: service@prospectnews.com Or call: 212 374 2800
Bank Loans - CLOs - Convertibles - Distressed Debt - Emerging Markets
Green Finance - High Yield - Investment Grade - Liability Management
Preferreds - Private Placements - Structured Products
 
Published on 3/20/2015 in the Prospect News Liability Management Daily, Prospect News Municipals Daily and Prospect News Preferred Stock Daily.

Nuveen Texas Quality Income to redeem all MuniFund term preferreds

By Jennifer Chiou

New York, March 20 – Nuveen Texas Quality Income Municipal Fund announced that it has filed a notice of intention with the Securities and Exchange Commission to redeem all of its MuniFund term preferred shares.

According to the notice, the fund plans to redeem all 7,092,000 of the 2.3% series 2015 preferreds on April 20.

A press release from Nuveen Investments stated that the shares will each be redeemed at their $10 liquidation value plus any dividend amount owed.

At the end of February, the fund’s board of trustees approved the full redemption, which will be financed with the proceeds of newly issued preferred shares in a Rule 144A private offering, subject to the completion of their placement.

The redemption and paying agent is Computershare Inc.

Nuveen is a Chicago-based investment services company.


© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.