Minnesota Municipal Income Portfolio Inc. Completes Auction Preferred Shares Redemption
May 08 2014 - 4:30PM
Business Wire
Minnesota Municipal Income Portfolio, Inc. (NYSE MKT: MXA) (the
“Fund”), today announced that the Fund has completed the redemption
of all of its outstanding Remarketed Preferred Shares. As
previously disclosed on April 1, 2014, the Fund completed the
private placement of Variable Rate MuniFund Term Preferred Shares
(VMTP) to generate cash proceeds to fund the redemption. First
American Minnesota Municipal Income Fund II, Inc. (NYSE MKT: MXN)
completed the redemption of its outstanding Auction Rate Preferred
Shares on May 2, 2014. American Municipal Income Portfolio Inc.
(NYSE: XAA) intends to complete the redemption of all of its
outstanding Remarketed Preferred Shares on May 9, 2014.
No VMTP shares have been registered under the Securities Act
of 1933 (the Securities Act) or any state securities laws. Unless
so registered, no VMTP shares may be offered or sold in the United
States except pursuant to an exemption from the registration
requirements of the Securities Act and applicable state securities
laws. This press release is neither an offer to sell nor a
solicitation of an offer to buy any VMTP shares.
For more information about the Funds, visit
www.firstamericanfunds.com or call 800.677.3863.
Minneapolis-based U.S. Bancorp Asset Management, Inc. serves as
investment advisor to the First American Closed-End Funds. A
subsidiary of U.S. Bank National Association, U.S. Bancorp Asset
Management focuses on providing investment management services to
institutional clients, including corporations, public entities and
nonprofits. It has combined assets under management of more than
$52 billion as of March 31, 2014. First American Closed-End Funds
are subadvised by Nuveen Fund Advisors, LLC and Nuveen Asset
Management, LLC.
Investment products, including shares of closed-end funds, are
not obligations of, or guaranteed by, any bank, including U.S. Bank
or any U.S. Bancorp affiliate, nor are they insured by the Federal
Deposit Insurance Corporation, the Federal Reserve Board, or any
other agency. An investment in such products involves investment
risk, including possible loss of principal.
Please remember, you could lose money with this investment.
Neither safety of principal nor stability of income is guaranteed.
Past performance does not guarantee future results.
U.S. Bank National Association is a separate entity and wholly
owned subsidiary of U.S. Bancorp, the fifth-largest commercial bank
in the United States, and provides a comprehensive line of banking,
brokerage, insurance, investment, mortgage, trust and payment
services products to consumers, businesses and institutions. Visit
U.S. Bancorp on the web at www.usbank.com.
U.S. Bancorp Asset Management, Inc.Investor
Services800.677.3863
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