Four Nuveen Closed-End Funds Announce Tender Offer Dates
08 Août 2014 - 3:25PM
Business Wire
Nuveen Investments, a leading global provider of investment
services to institutions as well as individual investors, today
announced the dates of the previously announced tender offers for
each of the closed-end funds listed below.
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)
As previously announced, each fund will 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
determined on the date the tender offer expires. Each fund
currently expects its tender offer to commence on August 18, 2014
and expire on September 19, 2014, unless extended.
Additional terms and conditions of the tender offer will be set
forth in each fund’s offering materials, which are expected to be
distributed to common shareholders on or about August 18, 2014. If
more than 10 percent of its outstanding common shares are tendered,
and not withdrawn, a fund will purchase shares from tendering
shareholders on a pro rata basis. Accordingly, shareholders cannot
be assured that a fund will purchase all of their tendered common
shares.
In addition, to mitigate the tender offer’s impact on each
fund’s effective leverage ratio and asset coverage level, each
fund’s Board has approved the concurrent partial redemption of
certain preferred shares, subject to the completion of the tender
offers. Further information regarding the redemptions will be
included in future filings with the Securities and Exchange
Commission (SEC) and accompanied by a public press release.
This announcement is not a recommendation, an offer to purchase
or a solicitation of an offer to sell shares of any of the funds.
The funds have not yet commenced the tender offers described in
this release. Any tender offer will be made only by an offer to
purchase, a related letter of transmittal and other documents that
will be filed with the SEC as exhibits to a tender offer statement
on Schedule TO and will be available free of charge at the SEC’s
website at www.sec.gov. Common shareholders should read the offer
to purchase and tender offer statement on Schedule TO and related
exhibits when those documents are filed and become available as
they will contain important information about the tender offer. The
funds will also make available, without charge, the offer to
purchase and the letter of transmittal.
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 approximately $225 billion as of March 31, 2014. For more
information, please visit the Nuveen Investments website at
www.nuveen.com.
2617-INV-008/15
Nuveen InvestmentsMedia Contact:Kristyna Munoz(312)
917-8343KRISTYNA.MUNOZ@NUVEEN.COM
Nuveen Quality Income Municipal Fund, Inc. (NYSE:NQU)
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