Nuveen Massachusetts to sell $17.18 million MuniFund preferred stock

By Cristal Cody

Tupelo, Miss., Jan. 13 - The Nuveen Massachusetts Premium Income Municipal Fund announced the size of a previously announced offering of MuniFund term preferred stock, series 2016, according to an N-2 filing with the Securities and Exchange Commission.

The fund plans to offer up to 1,717,525 shares at $10.00 each for total proceeds of $17,175,250.

Morgan Stanley & Co. Inc., Bank of America Merrill Lynch, Citigroup Global Markets Inc., UBS Investment Bank and Wells Fargo Securities LLC are the bookrunners.

Nuveen Investments, LLC is the co-manager.

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 MuniPreferred shares and to maintain the fund's leveraged capital structure.

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