Nuveen Closed-End Funds Announces Intention to Redeem Preferred Shares

NEW YORK--(BUSINESS WIRE)--The Nuveen Floating Rate Income Fund (NYSE: JFR) and Nuveen Floating Rate Income Opportunity Fund (NYSE: JRO) have each filed with the Securities and Exchange Commission a notice of intention to redeem all of the outstanding Series 2022 Term Preferred Shares for JFR, and Series 2022 and Series 2023 Term Preferred Shares for JRO. The Term Preferred Share redemption price will be the $1,000 liquidation preference per share, plus an additional amount representing the final accumulated distribution amounts owed. The Funds each expect to finance the Term Preferred Share redemptions with borrowings from a credit facility and with cash on hand and the redemptions are contingent upon the completion of all aspects of such credit facility financing by the Funds, which may not occur as planned. Official notification of the redemptions will be delivered to Term Preferred Share shareholders at a later date through The Depository Trust Company (DTC).