Nuveen Announces Closing of $1.25 Billion Senior Notes Offering

BY PR Newswire | CORPORATE | 04/11/24 02:07 PM EDT

NEW YORK, April 11, 2024 /PRNewswire/ -- Nuveen, LLC ("Nuveen") announced today that it has closed an offering of $1.25 billion aggregate principal amount of senior unsecured notes which have been issued in two series: (i) a series of 5.550% senior notes due 2030 in an aggregate principal amount of $500 million (the "2030 Notes") and (ii) a series of 5.850% senior notes due 2034 in an aggregate principal amount of $750 million (the "2034 Notes" and, together with the 2030 Notes, the "Notes").

Nuveen logo (PRNewsfoto/Nuveen)

The 2030 Notes will mature on January 15, 2030, and the 2034 Notes will mature on April 15, 2034. Nuveen intends to use the net proceeds for general corporate purposes, which may include, among other things, the repayment of $1 billion aggregate principal amount of 4.125% senior notes due November 1, 2024 previously issued by Nuveen Finance, LLC, a wholly owned subsidiary of Nuveen.

BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, Barclays Capital Inc., BNP Paribas Securities Corp. and UBS Securities LLC acted as joint book-running managers for the 2030 Notes, and BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Wells Fargo Securities, LLC, Citigroup Global Markets Inc., SMBC Nikko Securities America, Inc. and TD Securities (USA) LLC acted as joint book-running managers for the 2034 Notes. Academy Securities, Inc., Blaylock Van, LLC, Capital One Securities, Inc. and U.S. Bancorp Investments, Inc. were co-managers for the Notes.

The Notes were offered only to (i) persons reasonably believed to be qualified institutional buyers in reliance on Rule 144A under the Securities Act of 1933, as amended (the "Securities Act") and (ii) certain non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The Notes have not been registered under the Securities Act or any state securities laws and therefore may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy the Notes, nor shall it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About?Nuveen
Nuveen, the investment manager of TIAA, offers a comprehensive range of outcome-focused investment solutions designed to secure the long-term financial goals of institutional and individual investors. As of December 31, 2023, Nuveen has $1.2 trillion in assets under management and 37 global office locations. Its investment specialists offer deep expertise across a comprehensive range of traditional and alternative investments through a wide array of vehicles and customized strategies. For more information, please visit www.nuveen.com.

Forward-Looking Statements
This press release contains certain statements that may include "forward-looking statements." All statements, other than statements of historical or present facts or conditions, included herein are "forward-looking statements." Included among "forward- looking statements" are, among other things, statements regarding?Nuveen's business strategy, plans and objectives, including the use of proceeds from the offering. Though Nuveen believes that the expectations reflected in these "forward-looking statements" are reasonable, they are inherently uncertain and involve a number of risks and uncertainties beyond Nuveen's control. In addition, assumptions may prove to be inaccurate. Actual results may differ materially from those anticipated or implied in "forward-looking statements" as a result of a variety of factors. These "forward-looking statements" speak only as of the date made, and other than as required by law, Nuveen undertakes no obligation to update or revise any "forward-looking statement" or provide reasons why actual results may differ, whether as a result of new information, future events or otherwise.

Media Contact
Sally?Lyden | Sally.Lyden@nuveen.com| 646.984.1913

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SOURCE Nuveen

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Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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