Nuveen Virginia to redeem $25.55 million of auction-rate preferreds

By Toni Weeks

San Diego, March 14 - Nuveen Virginia Premium Income Municipal Fund will redeem all of its outstanding T and TH series municipal auction-rate cumulative preferred securities, according to a press release.

Each of the 1,022 shares has a liquidation preference of $25,000, and the redemption will total $25.55 million, with 333 T series shares to be redeemed on April 4 and 689 series TH series shares to be redeemed on April 6.

Nuveen is an investment management firm based in Chicago.

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