Nuveen Virginia calls $28.5 million of auction-rate preferreds at par

By Marisa Wong

Milwaukee, Jan. 26 - Nuveen Virginia Premium Income Municipal Fund said it will redeem $28.5 million of its $57 million of outstanding auction-rate preferred securities.

The preferreds will be redeemed at par with proceeds from the issuance of MuniFund term preferred shares.

Affected are $9.3 million of the fund's series T preferreds to be redeemed Feb. 22 and $19.2 million of its series TH preferreds to be redeemed Feb. 17.

Nuveen is a Chicago-based seller of investment products.

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