Nuveen Floating Rate Income Fund (JFR)

Nuveen Floating Rate Income Fund (NYSEJFR) (the “Fund”) today announced the preliminary results of its transferable rights offering (the “Offer”) which expired at 5:00 p.m., Eastern time, on February 19, 2025 (the “Expiration Date”). The Offer entitled the rights holders to subscribe for an aggregate of up to an additional 26,911,238 common shares of the Fund (“Common Shares”). The subscription price for the Common Shares to be issued was $8.20 per Common Share, which was equal to 90% of the Fund’s net asset value per Common Share at the close of trading on the NYSE on the Expiration Date. The gross proceeds of the Offer are expected to be approximately $220.7 million (including oversubscription requests and notices of guaranteed delivery).

Nuveen Floating Rate Income Fund (NYSEJFR) today announced that its Board of Trustees (the “Board”) has approved the terms of the issuance of transferable rights (“Rights”) to the holders of the Fund’s common shares (par value $.01 per share) (“Common Shares”) as of January 21, 2025 (the “Record Date”). Holders of Rights will be entitled to subscribe for additional Common Shares (the “Offer”) at a discount to the market price of the Common Shares.

The mergers of Nuveen Senior Income Fund (NYSENSL), Nuveen Floating Rate Income Opportunity Fund NYSE: JRONYSEJRO)(NYSE: JSDNYSEJSD into Nuveen Floating Rate Income Fund (NYSE: JFRNYSE) were successfully completed prior to the opening of the New York Stock Exchange on July 31, 2023. The fund’s newly consolidated portfolio contains approximately $2 billion in investments—the largest among listed senior loan closed-end funds.

Common and preferred shareholders of Nuveen Senior Income Fund (NYSENSL), Nuveen Floating Rate Income Opportunity Fund NYSE: JRONYSEJRO)(NYSE: JSDNYSEJSD, and Nuveen Floating Rate Income Fund (NYSE: JFRNYSE) have approved a proposal to merge the funds. The mergers will combine each of NSL, JRO, and JSD into JFR. Subject to the satisfaction of certain customary closing conditions, the mergers are expected to become effective before the market opens on July 31, 2023.

The Boards of Trustees of Nuveen Senior Income Fund (NYSENSL), Nuveen Floating Rate Income Opportunity Fund NYSE: JRONYSEJRO)(NYSE: JSDNYSEJSD, and Nuveen Floating Rate Income Fund (NSYE: JFR) have approved a proposal to merge the funds. The proposed mergers, if approved by shareholders, would combine each of NSL, JRO, and JSD into JFR. The mergers are intended to create a larger fund with lower net operating expenses, enhanced earnings potential, and increased trading volume on the exchange for common shares.