Nuveen Floating Rate Income Fund eyes redeeming series 2019 preferreds

By Wendy Van Sickle

Columbus, Ohio, Oct. 22 – The Nuveen Floating Rate Income Fund plans to redeem all of its outstanding series 2019 term preferred shares on Nov. 21, according to a news release.

The 10,200 preferred shares will be redeemed at their liquidation preference of $1,000 apiece plus an amount representing the final accumulated distribution amounts owed.

The fund plans to finance the redemption with borrowings from a credit facility, and the redemption is contingent financing.

Computershare Inc. is the redemption and paying agent.

Fund manager Nuveen Investments, Inc. is based in Chicago.

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