CHICAGO--(BUSINESS WIRE)--
Nuveen, an operating division of TIAA Global Asset Management, today announced that Nuveen Quality Municipal Income Fund (NYSE: NAD) has successfully completed a Variable Rate MuniFund Term Preferred Share (VMTP) transaction in a privately negotiated exchange offer and private placement. The fund and the corresponding amount of newly issued VMTP shares are as follows:
| Nuveen Quality Municipal Income Fund (NYSE: NAD) | $208.5 million |
In this transaction, the fund completed an exchange offer in which it refinanced its existing Series 2017 VMTP shares with new Series 2019-1 VMTP shares with a term redemption date of November 1, 2019. The fund also sold additional Series 2019-1 VMTP shares totaling $165.0 million. The proceeds from the sale of additional shares will be invested in accordance with the fund’s investment policies.
VMTP dividends will be set monthly at a spread to seventy percent of the one month London Interbank Offered Rate (LIBOR). VMTP 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.
Nuveen provides investment solutions designed to help secure the long-term goals of individual investors and the advisors who serve them. Through the investment expertise of leading asset managers across traditional and alternative asset classes, Nuveen is committed to delivering consultative guidance that aligns with client needs. Funds are distributed by Nuveen Securities, LLC, a subsidiary of Nuveen Investments, Inc. Nuveen is an operating division of TIAA Global Asset Management. For more information, please visit the Nuveen website at www.nuveen.com.
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;
- 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 issuance of VMTP shares.
19478-INV-O-10/17
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