Nuveen Closed-End Funds Announces Intention to Redeem Preferred Shares
October 24 2019 - 4:15PM
Business Wire
The Nuveen Floating Rate Income Fund (NYSE: JFR) and Nuveen
Floating Rate Income Opportunity Fund (NYSE: JRO) have each filed
with the Securities and Exchange Commission a notice of intention
to redeem all of the outstanding Series 2022 Term Preferred Shares
for JFR, and Series 2022 and Series 2023 Term Preferred Shares for
JRO. The Term Preferred Share redemption price will be the $1,000
liquidation preference per share, plus an additional amount
representing the final accumulated distribution amounts owed. The
Funds each expect to finance the Term Preferred Share redemptions
with borrowings from a credit facility and with cash on hand and
the redemptions are contingent upon the completion of all aspects
of such credit facility financing by the Funds, which may not occur
as planned. Official notification of the redemptions will be
delivered to Term Preferred Share shareholders at a later date
through The Depository Trust Company (DTC).
The details of the anticipated redemption of the outstanding
Term Preferred Shares are as follows:
Fund & Common Share Symbol
Share Amount
Term Preferred CUSIP
Anticipated Redemption Date
Nuveen Floating Rate Income Fund (NYSE:
JFR)
25,000
67072TAC2
11/25/2019
Nuveen Floating Rate Income Opportunity
Fund (NYSE: JRO)
10,000
6706ENAB6
11/25/2019
Nuveen Floating Rate Income Opportunity
Fund (NYSE: JRO)
8,000
6706ENAA8
11/25/2019
The address of the redemption and paying agent, Computershare
Inc., is as follows: 150 Royall Street, Canton, Massachusetts
02021.
For more information, please visit Nuveen’s CEF homepage
www.nuveen.com/closed-end-funds.
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 trillion in assets under management as of
30 September 2019 and operations in 24 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 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 credit facility
borrowing 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.
EPS-990138PR-E1019
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