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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.
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