The Nuveen Build America Bond Fund (NYSE: NBB) and Nuveen Build America
Bond Opportunity Fund (NYSE: NBD) announced certain results of their
Annual Meeting of Shareholders.
NBB announced that shareholders at its Annual Meeting have approved the
issuance of additional common shares in connection with the proposed
merger of NBD into NBB, the elimination of NBB’s fundamental policy
related to the its contingent term provision and the election of Board
NBD announced that its Annual Meeting of Shareholders has been adjourned
to solicit additional proxies necessary to obtain shareholder approval
for the merger.
Consummation of the merger is contingent upon shareholders of NBD
approving the merger. Regardless of whether NBD shareholders approve the
merger, NBB will conduct a 20 percent tender offer as described in the
proxy materials, eliminate its contingent term provision, change its
principal investment policy to invest at least 80 percent of its assets
in taxable municipal securities, and change its name to Nuveen Taxable
Municipal Income Fund. These changes will become effective on, or as
soon as practicable thereafter, the closing date of the merger if the
merger is consummated, or otherwise upon completion of NBD’s Annual
Meeting of Shareholders, including any further adjournments thereof.
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
$967 billion in assets under management as of 3/31/18 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.
In connection with the proposed merger, NBB has filed a Form N-14
registration statement, which has been declared effective. The
solicitation of proxies to approve the merger is being made only by
means of the Form N-14 registration statement and the joint proxy
statement/prospectus contained therein. Investors are urged to read the
joint proxy statement/prospectus because it contains important
information about the proposals. Free copies of the joint proxy
statement/prospectus are available on the SEC’s web site at www.sec.gov.
This communication is not a solicitation of a proxy from any fund
shareholder. The funds, Nuveen Fund Advisors, LLC, the funds’ investment
adviser, and certain of their respective directors/trustees, officers
and affiliates may be deemed under the rules of the SEC to be
participants in the solicitation of proxies from shareholders in
connection with the proposals. Information about the directors/trustees
and officers of the funds may be found in their respective annual
reports and annual proxy statements previously filed with the SEC as
well as the joint proxy statement/prospectus.
FORWARD LOOKING STATEMENTS
Certain statements made or referenced in this release may be
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
Nuveen and the closed-end funds managed by Nuveen and its affiliates
undertake no responsibility to update publicly or revise any
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