Minnesota Municipal redeems all of its remarketed preferred shares

By Tali Rackner

Norfolk, Va., May 8 - The Minnesota Municipal Income Portfolio, Inc. redeemed all of its outstanding remarketed preferred shares, according to a press release.

As previously announced, the fund completed the private placement of variable-rate MuniFund term preferred shares on April 1 to generate cash proceeds to fund the redemption.

First American Minnesota Municipal Income Fund II, Inc. redeemed its outstanding auction-rate preferred shares on May 2.

American Municipal Income Portfolio Inc. intends to complete its redemption of all outstanding remarketed preferred shares on May 9.

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