Two Nuveen Closed-End Funds Announce Intention to Redeem Preferred Shares
19 Abril 2017 - 4:16PM
Business Wire
Nuveen, today announced that two municipal bond closed-end funds
have filed with the Securities and Exchange Commission notices of
intention to redeem all of their respective outstanding
Institutional MuniFund Term Preferred (iMTP) shares. The iMTP
redemption price will be the $5,000 liquidation preference per
share, plus an additional amount representing the final accumulated
distribution amounts owed. Each fund expects to finance the iMTP
share redemptions with the proceeds of newly issued preferred
shares and the redemptions are contingent upon the completion of
all aspects of such preferred share placements by each Fund, which
may not occur as planned. Official notification of the redemptions
will be delivered to iMTP shareholders of each Fund at a later date
through The Depository Trust Company (DTC).
The funds filing the notices and the anticipated dates of
redemption of their outstanding iMTP shares are as follows:
Fund & Common Share Symbol Share
Amount iMTP CUSIP
Anticipated Redemption Date Nuveen Municipal Credit Income
Fund (NYSE: NZF) 30,000 67070X804 May 25, 2017 Nuveen New York
AMT-Free Quality Municipal Income Fund (NYSE: NRK) 15,800 670656883
May 22, 2017
The address of the calculation and paying agent, The Bank of New
York Mellon, is 101 Barclay Street, Floor 7E, New York, New York
10286.
The funds intend to offer the new preferred shares to qualified
institutional buyers (as defined in Rule 144A of the Securities Act
of 1933 (the Securities Act)) in private offerings exempt from
registration under the Securities Act.
No preferred shares, including iMTP shares, have been registered
under the Securities Act or any state securities laws. Unless so
registered, no preferred 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 securities.
About Nuveen
Nuveen offers a comprehensive range of outcome-focused
investment solutions designed to secure the long-term financial
goals of institutional and individual investors. As the investment
management arm of TIAA, Nuveen has $882 billion in assets under
management as of 12/31/16 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.
Securities offered through Nuveen Securities, LLC, member FINRA
and SIPC.
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 funds 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.
24457-INV-O-04/19
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version on businesswire.com: http://www.businesswire.com/news/home/20170419006689/en/
NuveenMedia Contact:Kathleen
Cardoza312-917-7813kathleen.cardoza@nuveen.com
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