Four Nuveen Closed-End Funds Announce Intent to Conduct Tender Offers
16 Julho 2014 - 5:32PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced that the Board of Trustees of each of the closed-end
funds listed below approved for each fund to conduct a tender offer
to purchase up to 10 percent of its outstanding common shares for
cash at a price per share equal to 98 percent of the net asset
value per share as of the purchase date.
Closed-End Funds
Nuveen Dividend Advantage Municipal Fund 3 (NYSE MKT:
NZF)Nuveen Dividend Advantage Municipal Income Fund (NYSE
MKT: NVG)Nuveen Municipal Advantage Fund, Inc. (NYSE:
NMA)Nuveen Quality Income Municipal Fund, Inc. (NYSE:
NQU)
The commencement date of each fund’s tender offer will be
announced as soon as practicable after the successful completion of
the fund’s 2014 annual shareholder meeting and any adjournments or
postponements thereof, with payment pursuant to each tender offer
to occur within 75 days after the successful completion of the
fund’s 2014 annual shareholder meeting and any adjournments or
postponements.
In connection with the Board’s approval of the tender offers,
Karpus Management, Inc. agreed to vote the shares of each Nuveen
fund for which it has the power to vote or direct the vote in
accordance with the recommendation of the Board of Trustees with
respect to the proposals submitted to shareholders at the upcoming
annual and special meetings of shareholders of the Nuveen funds.
Karpus has also agreed to be bound by certain “standstill”
covenants with respect to NZF, NVG, NMA and NQU until September 30,
2017.
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 are distributed by Nuveen Securities, LLC,
a subsidiary of Nuveen Investments, Inc. In total, Nuveen
Investments managed nearly $225 billion as of March 31, 2014. For
more information, please visit the Nuveen Investments website at
www.nuveen.com.
2049-INV-W07/15
Nuveen InvestmentsMedia Contact:Kristyna Munoz, (312)
917-8343kristyna.munoz@nuveen.com
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