Business & Finance
Business and Finance
Business and Finance
Mon, January 3, 2011
Sat, January 1, 2011
Fri, December 31, 2010
Thu, December 30, 2010 Two Nuveen Closed-End Funds Issue At-Par Redemption Notice for Auction-Rate Preferred Securities
CHICAGO--([ BUSINESS WIRE ])--Nuveen Investments, a leading global provider of investment services to institutions and high-net-worth investors, today announced that the Nuveen Insured Municipal Opportunity Fund, Inc. (NYSE: NIO) and Nuveen Insured California Premium Income Municipal Fund 2, Inc. (NYSE: NCL) called for redemption at par all of their outstanding auction-rate preferred securities (ARPS). The fundsa™ Board of Trustees has approved these redemptions, which total $738.15 million and will be funded by proceeds received from the issuance of Variable Rate Demand Preferred shares (VDRPs).
NIO is redeeming all of its $664.825 million of currently outstanding ARPS.
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| M | 670984202 | 3,319 | $82,975,000 | January 21, 2011 | ||||
| T | 670984301 | 3,319 | $82,975,000 | January 24, 2011 | ||||
| W | 670984608 | 3,320 | $83,000,000 | January 25, 2011 | ||||
| W2 | 670984806 | 2,655 | $66,375,000 | January 25, 2011 | ||||
| W3 | 670984889 | 1,486 | $37,150,000 | January 25, 2011 | ||||
| TH | 670984400 | 3,319 | $82,975,000 | January 26, 2011 | ||||
| TH2 | 670984707 | 3,321 | $83,025,000 | January 26, 2011 | ||||
| TH3 | 670984871 | 2,536 | $63,400,000 | January 26, 2011 | ||||
| F | 670984509 | 3,318 | $82,950,000 | January 20, 2011 | ||||
NCL is redeeming all of its $73.325 million of currently outstanding ARPS.
| Series | Cusip # | Total Shares | Total Amount | Redemption Date | ||||
| T | 67061U306 | 1,467 | $36,675,000 | January 24, 2011 | ||||
| TH | 67061U207 | 1,466 | $36,650,000 | January 26, 2011 | ||||
For more information about Nuveen closed-end funds, visit [ www.nuveen.com/cef ]. ARPS information and updates are posted on Nuveena™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 and high net worth investors as well as the consultants and financial advisors who serve them. Nuveen Investments markets its growing range of specialized investment solutions under the high-quality brands of NWQ, Nuveen, Santa Barbara, Symphony, Tradewinds, Winslow Capital and Nuveen HydePark. In total, the Company managed nearly $163 billion as of September 30, 2010. For more information, please visit the Nuveen Investments website at [ www.nuveen.com ].
