Nuveen Announces Completion of Municipal Closed-End Fund Merger

Nuveen Announces Completion of Municipal Closed-End Fund Merger

CHICAGO--(BUSINESS WIRE)-- Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the reorganization of certain Nuveen municipal closed-end funds was completed prior to the opening of the New York Stock Exchange on April 8, 2013. As part of a previously announced reorganization, the funds have been merged as outlined in the table below.

In the merger, NEA acquired substantially all of the assets and liabilities of the above mentioned funds in tax-free transactions in exchange for an equal aggregate value of newly-issued common shares. The exchanges took place based upon the funds' closing net asset values on May 3, 2013. The exchange ratios at which common shares of each acquired fund were exchanged for common shares of the acquiring funds are listed below:

Additionally, Variable Rate Demand Preferred (VRDP) shareholders of each acquired fund received an equivalent number of newly issued VRDP shares from the acquiring fund, with the same terms as their previous VRDP shares.

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, LLC, Symphony Asset Management LLC, NWQ Investment Management Company, LLC, Santa Barbara Asset Management, LLC, Tradewinds Global Investors, LLC, Winslow Capital Management, LLC and Gresham Investment Management LLC all of which are registered investment advisers and subsidiaries of Nuveen Investments, Inc. In total, Nuveen Investments managed $224 billion as of March 31, 2013. For more information, please visit the Nuveen Investments website at www.nuveen.com.

Nuveen Investments
Media Contact:
Kristyna Munoz
(312) 917-8343
kristyna.munoz@nuveen.com

KEYWORDS: United States North America Illinois

INDUSTRY KEYWORDS:

The article Nuveen Announces Completion of Municipal Closed-End Fund Merger 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 - 2013 The Motley Fool, LLC. All rights reserved. The Motley Fool has a disclosure policy.