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 (MTP) shares issued by the Nuveen Virginia Dividend Advantage Municipal Fund 2 (NNB) on October 30 2009, have begun trading on the New York Stock Exchange (NYSE), under the ticker symbol “NNB PrC.” MTP is a fixed rate form of preferred stock with a mandatory redemption period, in the case of NNB’s MTP shares, of five years. By issuing MTP, the fund sought 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. For more information about NNB common and MTP shares, visit http://www.nuveen.com/CEF/FundDetail.aspx?fundcode=NNB&tab=FO.
The Nuveen Virginia Dividend Advantage Municipal Fund 2 is a leveraged closed-end fund that seeks to provide current income exempt from both federal income taxes and Virginia income taxes and enhance portfolio value. The fund invests at least 80 percent of its net assets in investment grade quality municipal bonds (Baa/BBB or better). The fund may invest up to 20 percent of its net assets in municipal bonds that are rated Ba/BB or B or that are unrated but judged to be of comparable quality.
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 $141 billion as of September 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
