Nuveen to launch $280 million add-on term loan on Wednesday

By Sara Rosenberg

New York, Nov. 15 - Nuveen Investments is scheduled to hold a conference call at noon ET on Wednesday to launch a proposed $280 million add-on term loan due 2017, according to market sources.

Deutsche Bank Securities Inc., Bank of America Merrill Lynch, Morgan Stanley & Co. LLC, UBS Securities LLC and Wells Fargo Securities LLC are the lead banks on the deal.

Proceeds will fund the acquisition of a 60% stake in Gresham Investment Management LLC, a New York-based investment manager focused exclusively on portfolios providing investors access to commodities.

Closing is expected by year-end, subject to customary conditions, according to the sources.

Nuveen is a Chicago-based provider of investment services to institutions as well as individual investors.

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