Nuveen Select to redeem $251.28 million auction-rate preferreds

By Toni Weeks

San Diego, May 5 - Nuveen Select Quality Municipal Fund, Inc. will redeem all of its outstanding M, T, W, TH and F municipal auction-rate cumulative preferred securities, according to a filing with the Securities and Exchange Commission.

Each of the 10,051 shares has a liquidation preference of $25,000, and the redemption will total $251,275,000.

The redemption will be completed over four days, according to the following schedule:

• 2,522 series F shares on May 26;

• 1,801 series M shares on May 26;

• 1,801 series T shares on May 27;

• 2,522 series W shares on May 31; and

• 1,405 series TH shares on June 1.

Nuveen is an investment management firm based in Chicago.

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