Nuveen Virginia, Nuveen Maryland to redeem auction-rate preferreds

By Toni Weeks

San Diego, March 15 - Nuveen Virginia Premium Income Municipal Fund and Nuveen Maryland Premium Income Municipal Fund called for redemption at par all $58,525,000 of their municipal auction-rate cumulative preferred securities, according to a press release.

Each of the preferreds has a liquidation preference of $25,000.

Nuveen Virginia will redeem 333 T series preferreds on April 4 and 689 TH series preferreds on April 6 for a total of $25.55 million.

Nuveen Maryland will redeem 585 W series preferreds on April 5 and 734 TH series preferreds on April 6 for a total of $32,975,000.

Nuveen is an investment management firm based in Chicago.

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