Nuveen completes $140 million offering of Build America Bond fund

By Melissa Kory

Cleveland, Nov. 24 - Nuveen Investments announced it has successfully completed its $140 million initial public offering of the Nuveen Build Americea Bond Opportunity fund.

The new closed-end fund's primary investment objective is to provide current income through investments in taxable municipal securities.

The fund will begin trading on the New York Stock Exchange on Wednesday under the symbol "NBD."

The fund raised $140 million in its common share offering, assuming full exercise of the underwriters' option to purchase additional shares, which may or may not occur.

The fund is sponsored by Nuveen Investments, LLC. Nuveen Asset Management is the fund's investment adviser.

The lead managers of the common share underwriting syndicate were Citigroup Global Markets Inc. and Morgan Stanley & Co. Inc.

Raymond James & Associates, Inc, RBC Capital Markets Corp., Oppenheimer & Co. Inc., Stifel, Nicolaus & Co., Inc., J.J.B. Hilliard, W.L. Lyons, LLC, Ladenburg Thalmann & Co. Inc., Maxim Group LLC and Nuveen Investments, LLC acted as co-managers.

Nuveen is a Chicago-based seller of investment products.

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