Nuveen Massachusetts muni fund registers to sell five-year preferreds

By Angela McDaniels

Tacoma, Wash., Nov. 3 - Nuveen Massachusetts Premium Income Municipal Fund registered to sell MuniFund term preferred stock, series 2015-1, in an N-2 filing with the Securities and Exchange Commission.

The preferreds will have a liquidation preference of $10 each and will be redeemed after five years if not called earlier.

The fund has applied to list the preferreds on the New York Stock Exchange.

Proceeds will be used to refinance and redeem the Chicago-based closed-end management investment company's outstanding municipal auction-rate cumulative preferred shares and to maintain the fund's leveraged capital structure.

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