Minnesota Municipal Income Portfolio closes redemption of its auction preferred shares.
M2 EQUITYBITES-May 9, 2014-Minnesota Municipal Income Portfolio closes redemption of its auction preferred shares
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Minnesota Municipal Income Portfolio Inc (NYSE MKT:MXA), a diversified, closed-end management investment company, closed the redemption of all of its outstanding remarketed preferred shares, it said on Friday.
The company added that it completed the private placement of Variable Rate MuniFund Term Preferred Shares (VMTP) to generate cash proceeds to finance the redemption.
Also, First American Minnesota Municipal Income Fund II Inc (NYSE MKT:MXN) redeemed its outstanding auction rate preferred shares on 2 May 2014, while American Municipal Income Portfolio Inc (NYSE:XAA) will complete the redemption of all of its outstanding remarketed preferred shares today, the company said.
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|Publication:||M2 EquityBites (EQB)|
|Date:||May 9, 2014|
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