Nuveen municipal funds to redeem $250.1 million auction-rate securities

By Devika Patel

Knoxville, Tenn., Jan. 8 - Nuveen Investments said 35 of its municipal closed-end funds plan to redeem a portion of their outstanding auction-rate preferred securities at par.

The funds' board of trustees has approved the redemption, which will total $250.1 million.

Nuveen has now redeemed nearly $2 billion of the original $11 billion securities.

Chicago-based Nuveen sells investment products.

© 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.