Nuveen Income Opportunity Fund plans up to $95 million term preferreds

By Marisa Wong

Morgantown, W.Va., June 30 – Nuveen Floating Rate Income Opportunity Fund plans to offer up to $95 million of term preferred shares, according to an N-2 filing with the Securities and Exchange Commission.

The fund will offer from time to time or in an underwritten sale up to 95,000 term preferred shares with a liquidation preference of $1,000 each.

Proceeds from the registered offering will be used to refinance and redeem outstanding preferred shares, including all of the fund’s outstanding variable-rate term preferred shares, and to maintain the fund’s leveraged capital structure.

The fund is managed by Chicago-based Nuveen Investments Inc.

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