Nuveen Quality Municipal Income Fund Completes Private Issuance of Preferred Securities
October 03 2016 - 5:36PM
Business Wire
Nuveen, an operating division of TIAA Global Asset Management,
today announced that Nuveen Quality Municipal Income Fund (NYSE:
NAD) has successfully completed a Variable Rate MuniFund Term
Preferred Share (VMTP) transaction in a privately negotiated
exchange offer and private placement. The fund and the
corresponding amount of newly issued VMTP shares are as
follows:
Nuveen Quality Municipal Income Fund (NYSE: NAD)
$208.5 million
In this transaction, the fund completed an exchange offer in
which it refinanced its existing Series 2017 VMTP shares with new
Series 2019-1 VMTP shares with a term redemption date of November
1, 2019. The fund also sold additional Series 2019-1 VMTP shares
totaling $165.0 million. The proceeds from the sale of additional
shares will be invested in accordance with the fund’s investment
policies.
VMTP dividends will be set monthly at a spread to seventy
percent of the one month London Interbank Offered Rate (LIBOR).
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 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. Funds are distributed by Nuveen Securities, LLC, a
subsidiary of Nuveen Investments, Inc. 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.
This notice is being provided pursuant to Regulation FD (Fair
Disclosure) to ensure that the fund’s common and preferred
shareholders have been informed of the fund’s issuance of VMTP
shares.
19478-INV-O-10/17
View source
version on businesswire.com: http://www.businesswire.com/news/home/20161003006552/en/
Media Contact:NuveenKristyna Munoz(312)
917-8343kristyna.munoz@nuveen.com
Nuveen Quality Municipal... (NYSE:NAD)
Historical Stock Chart
From Jun 2024 to Jul 2024
Nuveen Quality Municipal... (NYSE:NAD)
Historical Stock Chart
From Jul 2023 to Jul 2024