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Nuveen Quality fund to redeem $386.88 million MuniPreferred shares
By Toni Weeks
San Diego, Dec. 23 - Nuveen Investments, LLC announced that the Nuveen Quality Income Municipal Fund, Inc. issued a call for redemption at par of all of its outstanding series M, T, W1, W2, TH and F municipal auction-rate cumulative preferred shares in January, according to a filing with the Securities and Exchange Commission.
Each share has a liquidation preference of $25,000, and the redemption will total $386,875,000.
The redemption will be completed over a number of days, with 2,567 M shares to be redeemed Jan. 21; 2,569 T shares to be redeemed Jan. 24; 2,568 W1 shares to be redeemed Jan. 18; 1,780 W2 shares to be redeemed Jan. 18; 3,423 TH shares to be redeemed Jan. 19 and 2,568 F shares to be redeemed Jan. 20.
Nuveen is an investment management firm based in Chicago.
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