Contact Center Industry News

TMCNet:  First American Minnesota Municipal Income Fund II, Inc. Completes Auction Preferred Shares Redemption

[May 02, 2014]

First American Minnesota Municipal Income Fund II, Inc. Completes Auction Preferred Shares Redemption

MINNEAPOLIS --(Business Wire)--

First American Minnesota Municipal Income Fund II, Inc. (NYSE MKT: MXN) (the "Fund"), today announced that the Fund has completed the redemption of all of its outstanding Auction Preferred Shares. As previously disclosed on April 1, 2014, the Fund completed the private placement of Variable Rate MuniFund Term Preferred Shares (VMTP) to generate cash proceeds to fund the redemption. Minnesota Municipal Income Portfolio Inc. (NYSE: MXA) and American Municipal Income Portfolio Inc. (NYSE: XAA) intend to complete the redemption of all of their outstanding Remarketed Preferred Shares on May 8, 2014 and May 9, 2014, respectively.

No VMTP shares have been registered under the Securities Act of 1933 (the Securities Act) or any state securities laws. Unless so registered, no VMTP shares may be offered or sold in the United States except pursuan to an exemption from the registration requirements of the Securities Act and applicable state securities laws. This press release is neither an offer to sell nor a solicitation of an offer to buy any VMTP shares.

For more information about the Funds, visit or call 800.677.3863.

Minneapolis-based U.S. Bancorp Asset Management, Inc. serves as investment advisor to the First American Closed-End Funds. A subsidiary of U.S. Bank National Association, U.S. Bancorp Asset Management focuses on providing investment management services to institutional clients, including corporations, public entities and nonprofits. It has combined assets under management of more than $52 billion as of March 31, 2014. First American Closed-End Funds are subadvised by Nuveen Fund Advisors, LLC and Nuveen Asset Management, LLC.

Investment products, including shares of closed-end funds, are not obligations of, or guaranteed by, any bank, including U.S. Bank or any U.S. Bancorp affiliate, nor are they insured by the Federal Deposit Insurance Corporation, the Federal Reserve Board, or any other agency. An investment in such products involves investment risk, including possible loss of principal.

Please remember, you could lose money with this investment. Neither safety of principal nor stability of income is guaranteed. Past performance does not guarantee future results.

U.S. Bank National Association is a separate entity and wholly owned subsidiary of U.S. Bancorp, the fifth-largest commercial bank in the United States, and provides a comprehensive line of banking, brokerage, insurance, investment, mortgage, trust and payment services products to consumers, businesses and institutions. Visit U.S. Bancorp on the web at

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