Nuveen Floating Rate Income Fund (NYSEJFR) today announced that its Board of Trustees (the “Board”) has approved the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund’s common shares (par value $.01 per share) (“Common Shares”) as of January 21, 2025 (the “Record Date”). Holders of Rights will be entitled to subscribe for additional Common Shares (the “Offer”) at a discount to the market price of the Common Shares.
The mergers of Nuveen Senior Income Fund (NYSENSL), Nuveen Floating Rate Income Opportunity Fund NYSE: JRONYSEJRO)(NYSE: JSDNYSEJSD into Nuveen Floating Rate Income Fund (NYSE: JFRNYSE) were successfully completed prior to the opening of the New York Stock Exchange on July 31, 2023. The fund’s newly consolidated portfolio contains approximately $2 billion in investments—the largest among listed senior loan closed-end funds.
Common and preferred shareholders of Nuveen Senior Income Fund (NYSENSL), Nuveen Floating Rate Income Opportunity Fund NYSE: JRONYSEJRO)(NYSE: JSDNYSEJSD, and Nuveen Floating Rate Income Fund (NYSE: JFRNYSE) have approved a proposal to merge the funds. The mergers will combine each of NSL, JRO, and JSD into JFR. Subject to the satisfaction of certain customary closing conditions, the mergers are expected to become effective before the market opens on July 31, 2023.
The objective of the Blackstone/GSO Senior Floating Rate Term Fund is delivering high current income with preservation of capital. The objective of the Nuveen Floating Rate Income Fund is to achieve a high level of income with capital preservation.
A Form 4 filing filed with the SEC on Wednesday, April 14 showed that Saba Capital Management, L.P. sold 27,179 shares of Nuveen Floating Rate Income Fund (NYSEJFR) ...
