{"id":739257,"date":"2023-03-10T16:26:20","date_gmt":"2023-03-10T21:26:20","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/nuveen-municipal-closed-end-funds-announce-shareholder-approval-of-proposed-mergers\/"},"modified":"2023-03-10T16:26:20","modified_gmt":"2023-03-10T21:26:20","slug":"nuveen-municipal-closed-end-funds-announce-shareholder-approval-of-proposed-mergers","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/nuveen-municipal-closed-end-funds-announce-shareholder-approval-of-proposed-mergers\/","title":{"rendered":"Nuveen Municipal Closed-End Funds Announce Shareholder Approval of Proposed Mergers"},"content":{"rendered":"

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Nuveen Municipal Closed-End Funds Announce Shareholder Approval of Proposed Mergers<\/b><\/p>\n

NEW YORK–(BUSINESS WIRE<\/a>)–
\nCommon and preferred shareholders of Nuveen Ohio Municipal Quality Income Fund (NYSE: NUO) and Nuveen Georgia Municipal Quality Income Fund (NYSE: NKG), and preferred shareholders of Nuveen Municipal Credit Income Fund (NYSE: NZF), have approved a proposal to merge the funds. The mergers will combine each of NUO and NKG into NZF. Subject to the satisfaction of certain customary closing conditions, the transactions are expected to become effective before the market opens on April 17, 2023.\n<\/p>\n

\nThe monthly distributions typically declared the first business day of the month for NUO, NKG, and NZF will be replaced by pre-merger distributions, which, to the extent declared, will be announced on April 3, 2023 with a record date of April 14, 2023. The payable date will remain May 1, 2023. Following the transactions, the surviving fund, NZF, may also declare an additional post-merger distribution, which, to the extent made, is expected to have a record date of April 27, 2023 and be payable May 1, 2023. The total per-common share dollar amount of the pre- and, to the extent made, post-merger tax-exempt distributions received by common shareholders of each fund on May 1, 2023 are expected to be equal to or greater than the per-common share dollar amount of the prior month\u2019s tax-exempt distribution of each fund prior to the mergers.\n<\/p>\n

\nNuveen is a leading sponsor of closed-end funds (CEFs) with $54 billion of assets under management across 55 CEFs as of 31 Dec 2022. The funds offer exposure to a broad range of asset classes and are designed for income-focused investors seeking regular distributions. Nuveen has more than 35 years of experience managing CEFs.\n<\/p>\n

\nFor more information, please visit Nuveen\u2019s CEF homepage www.nuveen.com\/closed-end-funds<\/a> or contact:\n<\/p>\n

\nFinancial Professionals:
\n
800-752-8700\n<\/p>\n

\nInvestors:
\n
800-257-8787\n<\/p>\n

\nMedia:
\n
media-inquiries@nuveen.com<\/a><\/p>\n

About Nuveen<\/b><\/p>\n

\nNuveen, 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 $1.1 trillion in assets under management as of 31 Dec 2022 and operations in 27 countries. Its investment specialists 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<\/a>.\n<\/p>\n

\nNuveen Securities, LLC, member FINRA and SIPC.\n<\/p>\n

\nThe information contained on the Nuveen website is not a part of this press release.\n<\/p>\n

\nFORWARD-LOOKING STATEMENTS\n<\/p>\n

\nCertain statements made herein 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:\n<\/p>\n