Nuveen Insured to redeem $67.38 million auction-rate preferreds

By Toni Weeks

San Diego, July 28 - Nuveen Insured Tax-Free Advantage Municipal Fund will redeem its series T, W and W2 municipal auction-rate cumulative preferred shares, according to a filing with the Securities and Exchange Commission.

Each of the 2,695 preferreds has a liquidation preference of $25,000, and the redemption will total $67,375,000.

The redemption will be completed over two days, as follows:

• 1,104 series T preferreds on Aug. 22; and

• 1,105 series W preferreds and 486 series W2 preferreds on Aug. 23.

Nuveen is an investment management firm based in Chicago.

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