Nuveen completes $540 million offering of Build America Bond fund

By Marisa Wong

Milwaukee, April 28 - Nuveen Investments announced it has successfully completed the $540 million initial public offering of the Nuveen Build America Bond fund.

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

The fund was expected to begin trading on the New York Stock Exchange on Wednesday under the symbol "NBB."

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

Bank of America Merrill Lynch was lead manager. Citi, Morgan Stanley, Wells Fargo Securities, Raymond James, Ameriprise Financial Services, Inc. and Nuveen Investments, LLC acted as co-lead agents for the offering.

Nuveen is a Chicago-based seller of investment products.

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