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Nuveen Municipal fund to redeem $95 million auction-rate preferreds
By Toni Weeks
San Diego, May 26 - Nuveen Municipal High Income Opportunity Fund will redeem all of its outstanding M, T and W municipal auction-rate cumulative preferred securities, according to a filing with the Securities and Exchange Commission.
Each of the 3,800 shares has a liquidation preference of $25,000, and the redemption will total $95 million.
The redemption will be completed over three days, according to the following schedule:
• 1,826 series M shares on June 17;
• 987 series T shares on June 20; and
• 987 series W shares on June 21.
Nuveen is an investment management firm based in Chicago.
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