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Nuveen Ohio to redeem $16.5 million auction-rate preferred securities
By Melissa Kory
Cleveland, Nov. 24 - Nuveen Investments said that the Nuveen Ohio Dividend Advantage Municipal Fund will redeem $16.5 million of its $29 million outstanding series W auction-rate preferred securities.
The preferreds will be redeemed on Dec. 14 at par.
The redemption will be funded with proceeds from the fund's issuance of MuniFund term preferred shares.
Nuveen is an investment management firm based in Chicago.
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