BlackRock Advisors, LLC today announced the redemption details
for certain series of auction rate preferred shares (“ARPS”) issued
by fifteen BlackRock tax-exempt closed-end funds (the “Funds”).
These redemptions, which are being made at the liquidation
preference of $25,000 per share, together with accrued and unpaid
dividends to the redemption date, if any, are being announced in
connection with the issuance of Variable Rate Muni Term Preferred
Shares (“VMTP”) by the Funds, as announced on December 16,
2011.
Please see redemption details below.
BlackRock Municipal Income Investment Quality Trust (NYSE:
BAF)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed M-7 09250G201
January 10, 2012 1,691 $42,275,000
BlackRock Municipal Bond Trust (NYSE: BBK)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed R-7 09249H302
January 13, 2012 1,598 $39,950,000 T-7
09249H203 January 11, 2012 1,598 $39,950,000
BlackRock Municipal Income Trust (NYSE: BFK)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed F-7 09248F604
January 9, 2012 2,167 $54,175,000 M-7
09248F208 January 10, 2012 2,167 $54,175,000
R-7 09248F505 January 13, 2012 2,167
$54,175,000 T-7 09248F307 January 11, 2012
2,167 $54,175,000 W-7 09248F406 January 12,
2012 2,167 $54,175,000
The BlackRock Investment Quality Municipal Trust Inc. (NYSE:
BKN)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed T-28 09247D303
January 18, 2012 2,234 $55,850,000 T-7
09247D204 January 11, 2012 2,804 $70,100,000
BlackRock Municipal Income Trust II (AMEX: BLE)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed M-7 09249N200
January 10, 2012 1,513 $37,825,000 R-7
09249N507 January 13, 2012 1,513 $37,825,000
T-7 09249N309 January 11, 2012 1,513
$37,825,000 W-7 09249N408 January 12, 2012
1,513 $37,825,000
The BlackRock Strategic Municipal Trust (NYSE: BSD)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed W-7 09248T208
January 12, 2012 1,719 $42,975,000
BlackRock Municipal Income Quality Trust (NYSE: BYM)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed F-7 092479401
January 9, 2012 1,830 $45,750,000 M-7
092479203 January 10, 2012 1,830 $45,750,000
R-7 092479302 January 13, 2012 1,830
$45,750,000
BlackRock MuniYield Investment Quality Fund (NYSE: MFT)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed A-7 09254T209
January 10, 2012 1,884 $47,100,000 B-7
09254T308 January 5, 2012 377 $9,425,000
BlackRock MuniHoldings Fund, Inc. (NYSE: MHD)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed A-7 09253N203
January 11, 2012 1,473 $36,825,000 B-7
09253N302 January 6, 2012 1,473 $36,825,000
C-7 09253N401 January 10, 2012 402
$10,050,000
BlackRock MuniYield Quality Fund II, Inc. (NYSE: MQT)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed A-28 09254G207
January 17, 2012 1,457 $36,425,000 C-7
09254G405 January 9, 2012 1,457 $36,425,000
D-7 09254G504 January 10, 2012 292
$7,300,000
BlackRock MuniHoldings Quality Fund II, Inc. (NYSE: MUE)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed A-7 09254C206
January 6, 2012 1,345 $33,625,000 B-7
09254C305 January 5, 2012 1,345 $33,625,000
C-7 09254C404 January 11, 2012 2,550
$63,750,000
BlackRock MuniHoldings Fund II, Inc. (NYSE: MUH)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed A-7 09253P208
January 11, 2012 1,101 $27,525,000 B-7
09253P307 January 9, 2012 1,101 $27,525,000
BlackRock MuniHoldings Quality Fund, Inc. (NYSE: MUS)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed A-7 09254A200
January 6, 2012 1,740 $43,500,000 B-7
09254A309 January 10, 2012 1,740 $43,500,000
BlackRock MuniVest Fund, Inc. (AMEX: MVF)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed A-28 09253R204
January 9, 2012 1,460 $36,500,000 B-28
09253R303 January 17, 2012 1,460 $36,500,000
D-28 09253R501 January 3, 2012 1,460
$36,500,000 E-7 09253R600 January 3, 2012
2,190 $54,750,000 F-7 09253R709 January 11,
2012 1,723 $43,075,000
BlackRock MuniVest Fund II, Inc. (NYSE: MVT)
Shares to be Amount to be
Series CUSIP Redemption Date
Redeemed Redeemed A-28 09253T200
January 12, 2012 1,440 $36,000,000 C-7
09253T408 January 12, 2012 1,440 $36,000,000
D-7 09253T507 January 10, 2012 1,280
$32,000,000
BlackRock will continue to keep market participants and
shareholders informed of its closed-end funds’ progress to redeem
ARPS via press releases and on BlackRock’s website at
www.blackrock.com.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At September 30, 2011, BlackRock’s AUM was $3.345
trillion. BlackRock offers products that span the risk spectrum to
meet clients’ needs, including active, enhanced and index
strategies across markets and asset classes. Products are offered
in a variety of structures including separate accounts, mutual
funds, iShares® (exchange-traded funds), and other pooled
investment vehicles. BlackRock also offers risk management,
advisory and enterprise investment system services to a broad base
of institutional investors through BlackRock Solutions®.
Headquartered in New York City, as of September 30, 2011, the firm
had approximately 10,200 employees in 27 countries and a major
presence in key global markets, including North and South America,
Europe, Asia, Australia and the Middle East and Africa. For
additional information, please visit the firm’s website at
www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock may
make, may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act, with respect to
BlackRock’s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified
by words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “believe,” “comfortable,” “expect,” “anticipate,”
“current,” “intention,” “estimate,” “position,” “assume,”
“outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,”
“achieve,” and similar expressions, or future or conditional verbs
such as “will,” “would,” “should,” “could,” “may” or similar
expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the Funds, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the fund or in
the fund’s net asset value; (2) the relative and absolute
investment performance of the fund and its investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the recently approved
Dodd-Frank Wall Street Reform and Consumer Protection Act, and
regulatory, supervisory or enforcement actions of government
agencies relating to the fund or BlackRock, as applicable; (8)
terrorist activities, international hostilities and natural
disasters, which may adversely affect the general economy, domestic
and local financial and capital markets, specific industries or
BlackRock; (9) BlackRock’s ability to attract and retain highly
talented professionals; (10) BlackRock’s success in maintaining
secondary market support for the fund; (11) the impact of BlackRock
electing to provide support to its products from time to time; (12)
the impact of problems at other financial institutions or the
failure or negative performance of products at other financial
institutions; and (13) the ability of BlackRock to integrate the
operations of Barclays Global Investors.
The Annual and Semi-Annual Reports and other regulatory filings
of the fund with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's website at www.sec.gov and on
BlackRock’s website at www.blackrock.com, and may discuss
these or other factors that affect the fund. The information
contained on our website is not a part of this press release.
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