Nuveen California AMT-Free Quality Municipal Income Fund Completes Preferred Share Issuance
30 Octubre 2017 - 2:15PM
Business Wire
The Nuveen California AMT-Free Quality Municipal Income Fund
(NYSE: NKX) has successfully completed a $140.4 million offering of
MuniFund Preferred Shares (MFP), Series A (MFP shares) to
“qualified institutional buyers” as defined in Rule 144A under the
Securities Act of 1933. The Fund will use the net proceeds from the
sale of the MFP shares, along with cash already held by the Fund,
to redeem all of its outstanding Institutional MuniFund Term
Preferred (iMTP) Shares and Series 5 Variable Rate Demand Preferred
Shares (VRDP Series 5) Shares.
The MFP shares were issued with terms establishing an initial
Variable Rate Remarketed Mode and a term redemption date of October
1, 2047. During the Variable Rate Remarketed Mode, the dividend
rate will be set daily by the remarketing agent, and the MFP shares
may be tendered for remarketing by the remarketing agent. The MFP
shares are preferred securities of the fund and are senior, with
priority in all respects, to the fund's common shares in
liquidation and as to payments of dividends.
No MFP shares have been registered under the Securities Act of
1933 (the Securities Act) or any state securities laws. Unless so
registered, no MFP shares may be offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws. This press release is neither an offer to sell nor a
solicitation of an offer to buy any of these securities.
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $948 billion in assets under management as of
9/30/17 and operations in 16 countries. Its affiliates offer deep
expertise across a comprehensive range of traditional and
alternative investments through a wide array of vehicles and
customized strategies. For more information, please visit
www.nuveen.com.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD LOOKING STATEMENTS:
Certain statements made or referenced in this release may be
forward-looking statements. Actual future results or occurrences
may differ significantly from those anticipated in any
forward-looking statements due to numerous factors. These include,
but are not limited to:
- market developments, including the
successful sale of new preferred securities by the fund identified
in this press release;
- legal and regulatory developments;
and
- other additional risks and
uncertainties.
Nuveen and the closed-end funds managed by Nuveen and its
affiliates undertake no responsibility to update publicly or revise
any forward-looking statements.
290823-INV-O-10/19
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NuveenKristyna Munoz254-644-1615kristyna.munoz@nuveen.com
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