Amended Distribution Dates & Use of “Due-Bills” Announced for BlackRock Defined Opportunity Credit Trust’s Liquidating ...
June 02 2017 - 6:15PM
Business Wire
This press release is amending the record date, ex-date and
payable date for the liquidating distribution for BlackRock Defined
Opportunity Credit Trust (NYSE:BHL) (the “Fund”) that was
previously declared and announced on June 1, 2017. Below are the
amended dates for BHL’s liquidating distribution of $3.800000 per
share (the “Liquidating Distribution”):
Declaration – 6/1/2017 Record Date – 6/16/2017 Payable Date –
6/28/2017 Ex-Date – 6/29/2017
The amended dates for BHL’s Liquidating Distribution do not
impact BHL’s regular monthly distribution that was previously
declared and announced on June 1, 2017. As required by the New York
Stock Exchange’s Listed Company Manual, BHL’s common stock will
trade with “due-bills” representing an assignment of the right to
receive the Liquidating Distribution beginning on June 14, 2017
(two business days prior to the record date) through the payable
date of June 28, 2017 and will not trade ex-dividend until June 29,
2017, the first business day after the payable date.
Stockholders who sell their BHL shares on or before the payable
date will not be entitled to receive the Liquidating
Distribution.
Due-bills obligate a seller of shares of stock to deliver the
dividend payable on such shares to the buyer. The due-bill
obligations are settled customarily between the brokers
representing the buyers and sellers of the stock. BHL and BlackRock
have no obligations for either the amount of the due-bill or the
processing of the due-bill. Buyers and sellers of BHL’s common
stock should consult their broker before trading in BHL’s common
stock to be sure they understand the effect of the NYSE’s due-bill
procedures.
About BlackRock
BlackRock is a global leader in investment management, risk
management and advisory services for institutional and retail
clients. At March 31, 2017, BlackRock’s AUM was $5.4 trillion.
BlackRock helps clients around the world meet their goals and
overcome challenges with a range of products that include 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®. As of
March 31, 2017, the firm had approximately 13,000 employees in more
than 30 countries and a major presence in global markets, including
North and South America, Europe, Asia, Australia and the Middle
East and Africa. For additional information, please visit the
Company’s website at www.blackrock.com | Twitter: @blackrock_news |
Blog: www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock
Availability of Fund Updates
BlackRock will update performance and certain other data for the
Fund on a monthly basis on its website in the “Closed-end Funds”
section of www.blackrock.com as well as certain other material
information as necessary from time to time. Investors and others
are advised to check the website for updated performance
information and the release of other material information about the
Fund. This reference to BlackRock’s website is intended to allow
investors public access to information regarding the Fund and does
not, and is not intended to, incorporate BlackRock’s website in
this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or a
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to a Fund’s or 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 Fund, 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
a Fund’s net asset value; (2) the relative and absolute investment
performance of a 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 Dodd-Frank Wall Street Reform
and Consumer Protection Act, and regulatory, supervisory or
enforcement actions of government agencies relating to a 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) the impact
of BlackRock electing to provide support to its products from time
to time; and (11) the impact of problems at other financial
institutions or the failure or negative performance of products at
other financial institutions.
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 BlackRock’s website is not a part of this press
release.
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version on businesswire.com: http://www.businesswire.com/news/home/20170602005906/en/
BlackRock Closed-End Funds1-800-882-0052
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