Two Nuveen Closed-End Funds Propose New VRDP Actions
10 Enero 2017 - 3:30PM
Business Wire
The Nuveen New Jersey Quality Municipal Income Fund (NYSE: NXJ)
and Nuveen Virginia Quality Municipal Income Fund (NYSE: NPV), as
part of Nuveen’s regular leverage management process, propose to
transition each of their Series 1 Variable Rate Demand Preferred
Shares (VRDP Shares) to a special rate period, through a mandatory
remarketing of the VRDP Shares from existing holders through the
remarketing agent to an institutional purchaser.
If and when each fund reaches an agreement to proceed, as
anticipated, each fund will provide existing holders of the
applicable VRDP Shares with advance notice of the mandatory
remarketing in accordance with the governing documents of the VRDP
Shares. During the special rate period, the VRDP Shares will not be
remarketed by a remarketing agent, be subject to optional or
mandatory tender events, or supported by a liquidity provider. The
proposed transitions may take place as early as late January 2017;
however, the timing and completion of the proposed transition by
each fund are subject to market conditions, as well as to reaching
final agreement with the purchaser and satisfaction of customary
closing conditions.
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. Securities offered through Nuveen Securities, LLC,
Member FINRA and SIPC. Nuveen is an operating division of TIAA
Global Asset Management. 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.
The Annual and Semi-Annual Reports and other regulatory filings
of the Nuveen closed-end funds with the Securities and Exchange
Commission (SEC) are accessible on the SEC's website at www.sec.gov
and on Nuveen`s website at www.nuveen.com/cef and may discuss the
above-mentioned or other factors that affect the Nuveen closed-end
funds. The information contained on those websites is not a part of
this press release.
21832-INV-O-01/18
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version on businesswire.com: http://www.businesswire.com/news/home/20170110006347/en/
NuveenMedia Contact:Kristyna Munoz(312)
917-8343kristyna.munoz@nuveen.com
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