Nuveen Investments, a leading global provider of investment services to institutions as well as high-net-worth and affluent investors, today announced that the Nuveen Dividend Advantage Municipal Fund (NYSE: NAD), Nuveen Insured Tax-Free Advantage Municipal Fund (AMEX: NEA), Nuveen Michigan Premium Income Municipal Fund, Inc. (NYSE: NMP) and Nuveen Arizona Premium Income Municipal Fund, Inc. (NYSE: NAZ) called for redemption at par all of their outstanding auction-rate preferred securities (ARPS). The funds' Board of Trustees has approved the redemptions, which total $269.025 million and will be funded by proceeds received from the issuance of Variable Rate MuniFund Term Preferred Shares (VMTP).
NAD is redeeming all of its $120.075 million of currently outstanding ARPS.
Total Shares | Total Amount | Redemption | ||||||
Series | Cusip # | Redeemed | Redeemed | Date | ||||
M | 67066V200 | 1,628 | $40,700,000 | August 19, 2011 | ||||
T | 67066V309 | 1,628 | $40,700,000 | August 22, 2011 | ||||
TH | 67066V408 | 1,547 | $38,675,000 | August 24, 2011 | ||||
NEA is redeeming all of its $67.375 million of currently outstanding ARPS.
Total Shares | Total Amount | Redemption | ||||||
Series | Cusip # | Redeemed | Redeemed | Date | ||||
T | 670657204 | 1,104 | $27,600,000 | August 22, 2011 | ||||
W | 670657303 | 1,105 | $27,625,000 | August 23, 2011 | ||||
W2 | 670657402 | 486 | $12,150,000 | August 23, 2011 | ||||
NAZ is redeeming all of its $27.875 million of currently outstanding ARPS.
Total Shares | Total Amount | Redemption | ||||||
Series | Cusip # | Redeemed | Redeemed | Date | ||||
TH | 67061W203 | 1,115 | $27,875,000 | August 24, 2011 | ||||
NMP is redeeming all of its $53.7 million of currently outstanding ARPS.
Total Shares | Total Amount | Redemption | ||||||
Series | Cusip # | Redeemed | Redeemed | Date | ||||
M | 67101Q307 | 805 | $20,125,000 | August 19, 2011 | ||||
TH | 67101Q208 | 1,343 | $33,575,000 | August 24, 2011 | ||||
For more information about Nuveen closed-end funds, visit www.nuveen.com/cef. ARPS information and updates are posted on Nuveen's auction-rate preferred resource center at www.nuveen.com/arps.
Nuveen Investments provides high quality investment services designed to help secure the long-term goals of institutions, high net worth and affluent 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 - NWQ, Nuveen Asset Management, Santa Barbara, Symphony, Tradewinds and Winslow Capital. In total, Nuveen Investments had $212 billion of assets under management as of April 30, 2011. For more information, please visit the Nuveen Investments website at www.nuveen.com.
Nuveen Investments
Media Contact:
Kristyna Sujata
(312)
917-8343
kristyna.sujata@nuveen.com