BB&T Capital Markets Serves as a Bookrunner on Nuveen Preferred & Income 2022 Term Fund’s Initial Public Offering
BB&T Capital Markets’ Financial Services Group completed a transaction for Nuveen Investment Inc.’s High Income November 2022 Target Term Fund (“JPT”) in the first quarter of 2017, helping to raise $162,500,000 in gross proceeds for our client.
The Fund will invest the net proceeds of the offering in accordance with the Fund’s investment objective and policies as stated below. It is presently anticipated that the Fund will be able to invest substantially all of the net proceeds in accordance with the Fund’s investment objective and policies within approximately three months after the completion of the offering. The Fund has granted the underwriters an option to purchase up to 975,000 additional shares to cover over-allotments.
About the Companies
Nuveen Preferred and Income 2022 Term Fund (the “Fund”) is a newly organized, non-diversified, closed-end management investment company. The Fund’s investment objective is to provide a high level of current income and total return. The Fund intends to liquidate and distribute substantially all of its net assets to shareholders on or before March 1, 2022.
BB&T Capital Markets Financial Services Group has extensive experience providing community banks and thrifts, business development companies, and other specialty finance companies with a full range of public and private capital raising solutions, M&A advisory, fairness opinions and other strategic advisory services.
About BB&T Capital Markets
BB&T Capital Markets offers an integrated platform of equity and debt underwriting, M&A advisory, corporate banking, and sales and trading. Headquartered in Richmond, VA, with offices throughout the US, we have specific expertise within 10 distinct industry verticals including Automotive Aftermarket; Commercial & Industrial; Education; Energy; Financial Services; Food & Agribusiness; Healthcare; Logistics & Transportation Services; Real Estate; and Retail & Consumer. Our commitment to industry expertise, combined with our resources as one of the nation's strongest financial institutions, strategically positions BB&T Capital Markets to build lasting relationships and contribute measurably to the long-term success of our clients.