Nuveen Closed-End Fund Merger Complete
November 19 2018 - 9:37AM
Business Wire
The merger of the Nuveen Build America Bond Opportunity Fund
(NYSE: NBD) into the Nuveen Build America Bond Fund (NYSE: NBB) was
completed prior to the open of the New York Stock Exchange on
November 19, 2018. As previously announced, the newly merged fund
has been renamed Nuveen Taxable Municipal Income Fund and will
continue to trade under the ticker NBB. In addition, NBB has
eliminated its contingent term provision and has changed its
principal investment policy from a policy of investing at least 80
percent of its assets in Build America Bonds to a policy of
investing at least 80 percent of its assets in taxable municipal
securities.
In the merger, NBB acquired substantially all of the assets and
liabilities of NBD in a tax-free transaction and common shares of
NBD were converted to newly-issued common shares of NBB in an
amount equal to the aggregate net assets of NBD. The transaction
was based upon the funds’ closing net assets on November 16, 2018.
The exchange ratio at which common shares of NBD were converted to
common shares of NBB is listed below:
Fund Exchange
Ratio Nuveen Build America Bond Opportunity Fund (NBD)
1.07322841
About Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive
range of outcome-focused investment solutions designed to secure
the long-term financial goals of institutional and individual
investors. Nuveen has $988 billion in assets under management as of
9/30/18 and operations in 16 countries. Its affiliates offer deep
expertise across a comprehensive range of traditional and
alternative investments through a wide array of vehicles and
customized strategies. For more information, please visit
www.nuveen.com.
The information contained on the Nuveen website is not a part of
this press release.
Nuveen Securities, LLC, member FINRA and SIPC.
661684-INV-O-11/20
View source
version on businesswire.com: https://www.businesswire.com/news/home/20181119005447/en/
Kristyna Munoz254-644-1615Kristyna.munoz@nuveen.com
NB Cap CP 8.35 A (NYSE:NBD)
Historical Stock Chart
From Oct 2024 to Nov 2024
NB Cap CP 8.35 A (NYSE:NBD)
Historical Stock Chart
From Nov 2023 to Nov 2024
