Two Nuveen Closed-End Funds Complete Issuance of Preferred Securities
Variable Rate MuniFund Term Preferred Shares Issued in New Private Placement
CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions, as well as individual investors, today announcedtwo national municipal closed-end funds have successfully priced and placed private offerings of new Variable Rate MuniFund Term Preferred Shares (VMTP) with a term redemption date of January 1, 2016. The proceeds from the issuance will in part be used to retire the funds' bank borrowing lines of credit. The funds and their corresponding amounts of VMTP shares are as follows:
Nuveen Municipal High Income Opportunity Fund (NYSE: NMZ)
Nuveen Municipal High Income Opportunity Fund 2 (NYSE: NMD)
VMTP dividends will be set weekly at a fixed spread to the Securities Industry and Financial Markets Association Municipal Swap Index (SIFMA). VMTP 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 payments of dividends.
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, Symphony Asset Management, NWQ Investment Management Company, Santa Barbara Asset Management, Tradewinds Global Investors, Winslow Capital Management, and Gresham Investment Management. In total, Nuveen Investments managed approximately $220 billion as of September 30, 2012. For more information, please visit the Nuveen Investments website at www.nuveen.com.
Kristyna Munoz, (312) 917-8343
KEYWORDS: United States North America Illinois
The article Two Nuveen Closed-End Funds Complete Issuance of Preferred Securities originally appeared on Fool.com.Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
Copyright © 1995 - 2012 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.