Nuveen Closed-End Fund Announces Preferred Share Action
01 Marzo 2017 - 4:57PM
Business Wire
The Nuveen Massachusetts Quality Municipal Income Fund (NYSE:
NMT), as part of its ongoing leverage management process,
has successfully completed the issuance of Variable Rate Demand
Preferred (VRDP) shares in a privately negotiated exchange offer.
In this transaction, the fund completed an exchange offer in which
it refinanced its existing Series 2017 Variable Rate MuniFund Term
Preferred (VMTP) shares on a one-for-one basis with new Series 1
VRDP shares with an initial special rate period ending February 28,
2018, and a term redemption date of March 1, 2047. As a result of
the transaction, leverage of the fund remains unchanged and the
fund has the following preferred shares outstanding:
Fund
Common
Share
Ticker
Preferred
Series
VRDP Amount
Outstanding
Number of
Preferred
Shares
Nuveen Massachusetts Quality Municipal Income Fund NMT
Series 1 $74,000,000 740
During the special rate period, the new Series 1 VRDP shares
will not be remarketed by a remarketing agent, be subject to
optional or mandatory tender events, or supported by a liquidity
provider. Also, during this period, new Series 1 VRDP dividends
will be set monthly at a floating rate based on a predetermined
formula. The Series 1 VRDP 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 payment of dividends.
No VRDP shares have been registered under the Securities Act of
1933 (the Securities Act) or any state securities laws. Unless so
registered, no VRDP 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.
Nuveen provides investment solutions designed to help secure the
long-term goals of individual investors and the advisors who serve
them. Through the investment expertise of leading asset managers
across traditional and alternative asset classes, Nuveen is
committed to delivering consultative guidance that aligns with
client needs. Funds distributed by Nuveen Securities, LLC, a
subsidiary of Nuveen, LLC. For more information, please visit the
Nuveen website at 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;
- 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.
This notice is being provided pursuant to Regulation FD (Fair
Disclosure) to inform the fund’s common and preferred shareholders
of the completion of the fund’s privately negotiated exchange offer
for preferred shares and designation of a special rate period for
the new Series 1 VRDP shares.
23483-INV-AN-03/19
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170301006632/en/
NuveenMEDIA CONTACT:Katheen
Cardoza312-917-7813kathleen.cardoza@nuveen.com
Nuveen Massachusetts Qua... (NYSE:NMT)
Gráfica de Acción Histórica
De May 2024 a Jun 2024
Nuveen Massachusetts Qua... (NYSE:NMT)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024