Nuveen Texas Quality Municipal Income Fund Completes Preferred Share Issuance
The Nuveen Texas Quality Municipal Income Fund (NYSE: NTX) has successfully completed a $72.0 million private placement of MuniFund Preferred Shares, Series A (MFP Series A Shares) with a qualified institutional buyer, as defined in Rule 144A under the Securities Act of 1933. The fund will use the net proceeds from the sale of the MFP Series A Shares, along with cash already held by the fund, to redeem all of its outstanding 14,400 Institutional MuniFund Term Preferred Shares, Series 2018.
The MFP Series A Shares were issued with terms establishing an initial Variable Rate Mode ending October 2, 2019, and a term redemption date of September 1, 2047. During the Variable Rate Mode, the dividend will be set weekly based on a predetermined formula. The MFP Series A Shares are preferred securities of the fund and are senior, with priority in all respects, to the fund's common shares in liquidation and as to payments of dividends.
No MFP Series A Shares have been registered under the Securities Act of 1933 (the Securities Act) or any state securities laws. Unless so registered, no MFP Series A 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 offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. As the investment management arm of TIAA, Nuveen has $929 billion in assets under management as of 6/30/17 and operations in 16 countries. Its affiliates offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.
The information contained on the Nuveen website is not a part of this press release.
Nuveen Securities, LLC, member FINRA and SIPC.
FORWARD LOOKING STATEMENTS
Certain statements made or referenced in this release may be 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:
Nuveen and the closed-end funds managed by Nuveen and its affiliates undertake no responsibility to update publicly or revise any forward-looking statements.