This Day On The Street
Continue to site right-arrow
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
Stocks Under $10 with 50-100% upside potential - 14 days FREE!

Nuveen Funds Board Approves Leverage Refinancing Plan For Five CEFS

Stocks in this article: NAD NAZ NEA NUM NVG PRC

Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced the Board of Trustees of five Nuveen municipal bond closed-end funds has approved the funds’ plans to refinance all of their respective MuniFund Term Preferred (MTP) shares and Variable Rate MuniFund Term Preferred (VMTP) shares. Each fund has filed with the Securities and Exchange Commission a notice of intention to redeem all of its outstanding MTP shares and (in the case of one fund) all but one series of VMTP shares, which will be refinanced through a privately negotiated exchange transaction.

MTP and VMTP shares will be redeemed or exchanged at their respective $10 and $100,000 liquidation preference per share, plus an additional amount representing the final accumulated dividend amounts owed. Each fund intends to finance its MTP and VMTP share redemptions with the proceeds of either newly issued VMTP shares or Variable Rate Demand Preferred (VRDP) shares. The redemptions are contingent upon the completion of all aspects of the VMTP or VRDP share placement, which may not occur as planned. Formal notice of each redemption will be delivered to MTP and VMTP shareholders at a later date through The Depository Trust Company (DTC).

The funds intending to redeem (or exchange) all series of their MTP and VMTP shares are as follows:

Fund & Common Share Symbol     MTP Share Symbols     MTP CUSIPs     VMTP CUSIPs
Nuveen AMT-Free Municipal Income Fund (NEA)     NEA.PRC     670657 501     670657 600
Nuveen Dividend Advantage Municipal Fund (NAD)     NAD.PRC     67066V 507     67066V 705
Nuveen Arizona Premium Income Municipal Fund (NAZ)     NAZ.PRC; NAZ.PRD     67061W 401; 67061W 609     67061W 302

Nuveen Michigan Quality Income Municipal Fund (NUM)



    670979 608    

670979 400*670979 509

Nuveen Dividend Advantage Municipal Income Fund (NVG)     NVG.PRC     67071L 502     67071L 601

* Proposed to be refinanced through a privately negotiated exchange transaction.

1 of 3

Select the service that is right for you!

Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!


DOW 18,030.21 +6.04 0.03%
S&P 500 2,081.88 -0.29 -0.01%
NASDAQ 4,773.4720 +8.0480 0.17%

Brokerage Partners

Rates from

  • Mortgage
  • Credit Cards
  • Auto

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs