Nuveen Insured Dividend to redeem $91.95 million preferred shares

By Jennifer Chiou

New York, Sept. 8 - Nuveen Insured Dividend Advantage Municipal Fund will redeem its series M, T and TH municipal auction-rate cumulative preferred shares, according to a filing with the Securities and Exchange Commission.

The preferreds each have a liquidation preference of $25,000, and the redemption will total $91.95 million, including:

• 1,247 series M preferreds on Sept. 30;

• 1,217 series T preferreds on Oct. 3; and

• 1,214 series TH preferreds on Oct. 5.

Nuveen is an investment management firm based in Chicago.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.