Nuveen Funds Board Approves Leverage Refinancing Plan for Texas Quality Income Municipal Fund
26 Febrero 2015 - 3:30PM
Business Wire
Fund Intends to Redeem MuniFund Term Preferred Shares
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that the Board of Trustees of Nuveen Texas Quality Income
Municipal Fund (NYSE: NTX) has approved a refinancing plan
to redeem all of its MuniFund Term Preferred (MTP) shares. MTP
shares will be redeemed at their $10.00 liquidation value per share
plus an additional amount representing any dividend amounts owed.
The redemption of MTP shares will be made with the proceeds of
newly issued preferred shares, subject to completion of all aspects
of their placement, which may not occur as planned.
Details of the fund and its MTP shares
are as follows:
MTP Share Fund Ticker Symbol
Nuveen Texas Quality Income Municipal
Fund
NTX PrC
The fund intends to offer new preferred shares to qualified
institutional buyers (as defined in Rule 144A of the Securities Act
of 1933 (the Securities Act)) in a private offering exempt from
registration under the Securities Act. Details regarding the
specific terms and timing of the redemption will be communicated at
a later date through filings with the Securities and Exchange
Commission and accompanying public press releases.
No preferred shares to be offered 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 of these securities.
Nuveen Investments provides high-quality investment services
designed to help secure the long-term goals of institutional and
individual investors as well as the consultants and financial
advisors who serve them. Nuveen Investments markets a wide range of
specialized investment solutions which provide investors access to
capabilities of its high-quality boutique investment
affiliates—Nuveen Asset Management, LLC, Symphony Asset Management
LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset
Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital
Management, LLC and Gresham Investment Management LLC, all of which
are registered investment advisers and independent investment
subsidiaries of Nuveen Investments, Inc. Funds distributed by
Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc.
Nuveen Investments operates as a separate subsidiary within
TIAA-CREF, which is a leading provider of retirement and financial
services in the academic, research, medical and cultural fields. In
total, Nuveen Investments managed approximately $230 billion as of
December 31, 2014. For more information, please visit the Nuveen
Investments website at www.nuveen.com.
FORWARD LOOKING STATEMENTS
Certain statements made 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:
- the acceptance by qualified
institutional buyers of, and demand for, new preferred shares in an
amount sufficient to refinance the MTP shares;
- the need to obtain the agreement of all
parties to the final terms of the offering of new preferred
shares;
- other legal and regulatory
developments; and
- other additional risks and
uncertainties.
Nuveen Investments and the closed-end funds managed by Nuveen
Investments and its affiliates undertake no responsibility to
update publicly or revise any forward-looking statements.
6420-INV-O02/16
Nuveen InvestmentsMedia Contact:Kristyna Munoz(312)
917-8343kristyna.munoz@nuveen.com
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