Nuveen Investments, a leading global provider of investment services to
institutions as well as individual investors, today announced that
Nuveen Massachusetts Premium Income Municipal Fund has filed with the
Securities and Exchange Commission notice of intention to redeem all of
its outstanding MuniFund Term Preferred (MTP) shares. The MTP redemption
price will be the $10 liquidation preference per share, plus an
additional amount representing the final accumulated distribution
amounts owed. The fund expects to finance the MTP share redemptions with
the proceeds of newly issued preferred shares (“new preferred shares”).
The redemptions are contingent upon the completion of all aspects of
such preferred share placements by the fund, which may not occur as
planned. Official notification of the redemptions will be delivered to
MTP shareholders of the fund at a later date through The Depository
Trust Company (DTC). The anticipated date of each redemption is July 11,
A description of the outstanding MTP shares being redeemed is as follows:
|Fund & Common Share Symbol||
||MTP Share Symbols / CUSIPs|
|Nuveen Massachusetts Premium Income Municipal Fund(NMT)||
NMT PrC / 67061E 302
NMT PrD / 67061E 401
NMT PrE / 67061E 609
NMT PrF / 67061E 708
The address of the redemption and paying agent, Computershare Inc.
as follows: 250 Royall Street
, Canton, Massachusetts
The fund intends to offer new preferred shares to qualified
institutional buyers (as defined in Rule 144A of the Securities Act of
1933 (the Securities Act)) in one or more private offerings exempt from
registration under the Securities Act.
No new preferred shares have been registered under the Securities Act
or any state securities laws.Unless so registered, no new
preferred shares may 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 securities.
Nuveen Investments provides high-quality investment services designed to
help secure the long-term goals of institutional and individual
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—Nuveen Asset Management,
LLC, Symphony Asset Management LLC
, NWQ Investment Management Company,
, Santa Barbara Asset Management, LLC
, Tradewinds Global Investors,
, Winslow Capital Management, LLC
and Gresham Investment Management
, all of which are registered investment advisers and subsidiaries of
Nuveen Investments, Inc.
Funds distributed by Nuveen Securities, LLC
subsidiary of Nuveen Investments, Inc.
In total, Nuveen Investments
managed approximately $225 billion
as of March 31, 2014
. For more
information, please visit the Nuveen Investments website at www.nuveen.com
FORWARD LOOKING STATEMENTS
Certain statements made in this release are 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:
the acceptance by qualified institutional buyers of, and demand for,
new preferred shares in amounts sufficient for the fund to refinance
its MTP shares as applicable;
the need to obtain the agreement of all parties to the final terms of
any offering of new preferred shares;
other 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
Source: Nuveen Investments