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Prospect News home > News index > List of issuers T > Headlines for Tenders 2010 > News item
Published on 10/18/2010 in the Prospect News Liability Management Daily, Prospect News Municipals Daily and Prospect News Preferred Stock Daily.

Nuveen closed-end funds call $27.26 million preferred securities

By Melissa Kory

Cleveland, Oct. 18 -Nuveen Investments' closed-end funds, the Nuveen Arizona Dividend Advantage Municipal Fund (NFZ) and Nuveen Arizona Dividend Advantage Municipal Fund 2 (NKR), called for the redemption of their outstanding $27.255 million auction-rate preferred securities.

The securities will be redeemed at par on Nov. 8.

The NFZ is redeeming all of its $10.6 million securities, and the NKR is redeeming its $16.625 million of securities.

The redemptions will be funded by proceeds from the issuance of MuniFund Term Preferred Shares.


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