Nuveen Closed-End Fund Completes Preferred Share Private Placement
The Nuveen Floating Rate Income Fund (NYSE: JFR) has successfully completed a private placement with qualified institutional
buyers, as defined pursuant to Rule 144A under the Securities Act of 1933 (the Securities Act), of Term Preferred Shares with a
term redemption date of June 1, 2024 (Series 2024 Term Preferred Shares).
Details of the Series 2024 Term Preferred Shares are as follows:
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Fund |
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Common |
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Series 2024 Term |
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Number of Series |
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Term |
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Share Ticker |
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Preferred Shares |
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2024 Term |
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Redemption |
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Issuance Amount |
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Preferred Shares |
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Date |
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Nuveen Floating Rate Income Fund |
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JFR |
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$35,000,000 |
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35,000 |
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6/1/2024 |
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The fund intends to use the net proceeds from this offering of Series 2024 Term Preferred Shares to repay a portion of the
fund’s outstanding indebtedness.
The Series 2024 Term Preferred Shares will pay a dividend rate based on a fixed spread to a short term index. Term Preferred
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. The Series 2024 Term Preferred Shares rank equally with the fund’s outstanding Term
Preferred Shares, Series 2019, Series 2022, and Series 2027, with respect to liquidation and dividends.
The Series 2024 Term Preferred Shares have not been registered under the Securities Act or any state securities laws. Unless so
registered, the Series 2024 Term Preferred Shares may not 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.
About Nuveen
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 $906 billion in assets under
management as of 3/31/17 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.
Securities offered through Nuveen Securities, LLC, member FINRA and SIPC.
The information contained on the Nuveen website is not a part of this press release.
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:
- market developments, including the successful sale of new preferred securities by the fund identified
in this press release;
- 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 statements.
This notice is being provided pursuant to Regulation FD (Fair Disclosure) to ensure that the fund’s common and preferred
shareholders have been informed of the fund’s private placement of Series 2024 Term Preferred Shares.
160949-INV-O-05/19
Nuveen
Kathleen Cardoza
312-917-7813
kathleen.cardoza@nuveen.com
View source version on businesswire.com: http://www.businesswire.com/news/home/20170519005727/en/