NEW YORK–(BUSINESS WIRE)–The Nuveen Taxable Municipal Income Fund (NYSE: NBB) announced the
preliminary results of the tender offer it conducted for a portion of
its common shares.
As previously announced, the fund conducted a tender offer for up to 20
percent of its outstanding common shares for cash at a price per share
equal to 100 percent of the net asset value per share determined on the
date the tender offer expires. The price that shareholders will receive
will be net of a repurchase fee which is estimated to be less than $0.03
per share. The tender offer expired on February 12, 2019 at 5:00 p.m.
Eastern time and was oversubscribed.
Due to the fact that the number of shares tendered exceeded the number
of shares of the fund offered for purchase, the fund will purchase the
maximum percentage of its respective outstanding common shares on a
pro-rata basis in accordance with the number of shares duly tendered by
each shareholder and the terms of the offer to purchase.
Based on preliminary information, 12,431,140 shares were tendered,
representing approximately 36 percent of the fund’s common shares
These figures do not include shares tendered through notice of
guaranteed delivery. The fund currently expects to announce the final
results of the tender offer on February 19, 2019.
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
$930 billion in assets under management as of 12/31/18 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
Nuveen Securities, LLC, member FINRA and SIPC.