Nuveen Funds Board Approves Leverage Refinancing Plan for Four CEFs Funds Intend to Redeem MuniFund Term Preferred and Variable Rate MuniFund Term Preferred Shares Business Wire CHICAGO -- January 24, 2014 Nuveen Investments, a leading global provider of investment services to institutions as well as individual investors, today announced that the Board of Trustees of four Nuveen municipal bond closed-end funds has approved a refinancing plan to redeem all of their respective MuniFund Term Preferred (MTP) shares and Variable Rate MuniFund Term Preferred (VMTP) shares. MTP shares will be redeemed at their $10.00 liquidation value per share plus an additional amount representing any dividend amounts owed. VMTP shares will be redeemed at their $100,000 liquidation value per share plus an additional amount representing any dividend amounts owed. The redemption of both MTP shares and VMTP shares will be made with the proceeds of newly issued preferred shares, subject to completion of all aspects of their placement, which may not occur as planned. The funds intending to redeem MTP and VMTP shares and a description of their outstanding preferred shares are as follows: Fund Preferred Share Description Common Share Symbol Nuveen New York AMT-Free MTP: NRK PrC NRK Municipal Income Fund VMTP: Series 2014 Nuveen Dividend Advantage MTP: NZF PrC NZF Municipal Fund 3 VMTP: Series 2014 Nuveen North Carolina Premium MTP: NNC PrC, NNC PrD, NNC NNC Income Municipal Fund PrE, NNC PrF, NNC PrG Nuveen Connecticut Premium MTP: NTC PrC, NTC PrD, NTC NTC Income Municipal Fund PrE, NTC PrF, NTC PrG The funds intend to offer newly issued preferred shares to qualified institutional buyers in private offerings pursuant to Rule 144A of the Securities Act of 1933. Details regarding specific terms and timing of the redemptions will be communicated at a later date through filings with the Securities and Exchange Commission, and accompanied by a public press release at that time. No preferred shares to be offered have been registered under the Securities Act of 1933 (the Securities Act) or any state securities laws. Unless so registered, no preferred shares may be offered or sold in the United States except pursuant to an exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities. 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. Funds distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. In total, Nuveen Investments managed nearly $215 billion as of September 30, 2013. For more information, please visit the Nuveen Investments website at www.nuveen.com. FORWARD LOOKING STATEMENTS Certain statements made in this release are 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: *the acceptance by qualified institutional buyers of, and demand for, preferred shares in amounts sufficient for each fund to refinance its MTP and VMTP shares; *the need to obtain the agreement of all parties to the final terms of the offerings of preferred shares *other 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 statement. Contact: Nuveen Investments Media Contact: Kristyna Munoz (312) 917-8343 firstname.lastname@example.org
Nuveen Funds Board Approves Leverage Refinancing Plan for Four CEFs
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