Nuveen Municipal Closed-End Funds Announce Shareholder Approval of Proposed Mergers
10 Marzo 2023 - 3:15PM
Business Wire
Common and preferred shareholders of Nuveen Ohio Municipal
Quality Income Fund (NYSE: NUO) and Nuveen Georgia Municipal
Quality Income Fund (NYSE: NKG), and preferred shareholders of
Nuveen Municipal Credit Income Fund (NYSE: NZF), have approved a
proposal to merge the funds. The mergers will combine each of NUO
and NKG into NZF. Subject to the satisfaction of certain customary
closing conditions, the transactions are expected to become
effective before the market opens on April 17, 2023.
The monthly distributions typically declared the first business
day of the month for NUO, NKG, and NZF will be replaced by
pre-merger distributions, which, to the extent declared, will be
announced on April 3, 2023 with a record date of April 14, 2023.
The payable date will remain May 1, 2023. Following the
transactions, the surviving fund, NZF, may also declare an
additional post-merger distribution, which, to the extent made, is
expected to have a record date of April 27, 2023 and be payable May
1, 2023. The total per-common share dollar amount of the pre- and,
to the extent made, post-merger tax-exempt distributions received
by common shareholders of each fund on May 1, 2023 are expected to
be equal to or greater than the per-common share dollar amount of
the prior month’s tax-exempt distribution of each fund prior to the
mergers.
Nuveen is a leading sponsor of closed-end funds (CEFs) with $54
billion of assets under management across 55 CEFs as of 31 Dec
2022. The funds offer exposure to a broad range of asset classes
and are designed for income-focused investors seeking regular
distributions. Nuveen has more than 35 years of experience managing
CEFs.
For more information, please visit Nuveen’s CEF homepage
www.nuveen.com/closed-end-funds or contact:
Financial Professionals: 800-752-8700
Investors: 800-257-8787
Media: media-inquiries@nuveen.com
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 $1.1 trillion in assets under management as
of 31 Dec 2022 and operations in 27 countries. Its investment
specialists 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.
Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of
this press release.
FORWARD-LOOKING STATEMENTS
Certain statements made herein are 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;
- the ability to satisfy conditions to the proposed mergers;
and
- other additional risks and uncertainties.
You should not place undue reliance on forward-looking
statements, which speak only as of the date they are made. 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 Nuveen closed-end funds with the Securities and Exchange
Commission (“SEC”) are accessible on the SEC’s web site at
www.sec.gov and on Nuveen’s web site at www.nuveen.com/cef and may
discuss the above-mentioned or other factors that affect Nuveen
closed-end funds. The information contained on the Nuveen website
is not a part of this press release.
EPS-2781275PR-E0323W
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version on businesswire.com: https://www.businesswire.com/news/home/20230310005390/en/
Financial Professionals: 800-752-8700 Investors: 800-257-8787
Media: media-inquiries@nuveen.com
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