CHICAGO--(Business Wire)--
Nuveen Investments, a leading global provider of investment services to
institutions and high-net-worth investors, today announced that the MuniFund
Term Preferred shares (MTP) of the Nuveen Insured Dividend Advantage Municipal
Fund (NVG PrC) will begin trading on the New York Stock Exchange (NYSE) on
Monday, November 9.
MTP is a fixed rate form of preferred stock with a mandatory redemption period
of five years. By issuing MTP, the fund seeks to take advantage of the current
historically low interest rate environment to lock in an attractive tax-exempt
cost of leverage for a period as long as the term of the MTP. Issuing MTP helps
the fund mitigate the risk of a significant increase in its cost of leverage
should short-term interest rates rise.
The Nuveen Insured Dividend Advantage Municipal Fund is a leveraged closed-end
fund that seeks to provide current income exempt from regular federal income tax
and to enhance portfolio value relative to the municipal bond market by
investing in tax-exempt municipal bonds that the fund`s investment adviser
believes are underrated or undervalued or that represent municipal market
sectors that are undervalued. The fund invests primarily in a portfolio of
municipal bonds that are exempt from regular federal income taxes and that are
covered by insurance guaranteeing the timely payment of principal and interest
thereon by insurers with a claims paying ability rated at least A.
Nuveen Investments provides high quality investment services designed to help
secure the long-term goals of institutions and high net worth investors as well
as the consultants and financial advisors who serve them. Nuveen Investments
markets its growing range of specialized investment solutions under the
high-quality brands of HydePark, NWQ, Nuveen, Santa Barbara, Symphony,
Tradewinds and Winslow Capital. In total, the Company managed $128 billion as of
June 30 2009. For more information, please visit the Nuveen Investments website
at www.nuveen.com.
Investors should consider the investment objectives and policies, risk
considerations, charges and expenses of the fund carefully before investing.For
a prospectus which contains this and other information relevant to an investment
in the fund, please contact your securities representative or Nuveen
Investments, LLC, 333 W. Wacker Drive, Chicago, IL 60606 or
www.nuveen.com/cef.Investors should read the prospectus carefully before they
invest or send money.
This document is not an offer to sell this security and is not soliciting an
offer to buy this security in any state where the offer or sale is not
permitted.
Nuveen Investments
Media Contact:
Kathleen Cardoza
(312) 917-7813
KATHLEEN.CARDOZA@NUVEEN.COM
or
Kristyna Sujata
312-917-8343
KRISTYNA.SUJATA@NUVEEN.COM
Copyright Business Wire 2009
