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Nuveen Investments Arranges Additional VRDP Liquidity Facilities for Its Closed-End Funds
Nuveen Investments has arranged up to $2.5 billion in liquidity support from three major financial institutions for its leveraged municipal closed-end funds to issue Variable Rate Demand Preferred shares (VRDP). This represents an important action necessary to refinance those funds’ outstanding auction rate preferred securities (ARPS).
Submitted by
etfguy
12/17/2009
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