Nuveen, OppenheimerFunds Lose Gamble on Sonoma County Casino

Updated on
  • River Rock Casino offers bondholders 30 percent of principal
  • Bonds held by mutual funds were from an earlier restructuring

Nuveen Asset Management and OppenheimerFunds Inc., among the municipal-bond market’s biggest high-yield fund managers, gambled on a casino 80 miles from San Francisco, and lost.

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