BlackRock Defined Opportunity Credit Trust Announces Additional Liquidation Details
July 26 2017 - 4:41PM
Business Wire
BlackRock Advisors, LLC today announced that, in connection with
the liquidation of BlackRock Defined Opportunity Credit Trust
(NYSE:BHL) (the “Fund”), the Fund’s common shares will continue to
trade the “regular way” on the New York Stock Exchange (NYSE)
through August 2, 2017 and will be suspended from trading before
the opening of trading on August 3, 2017. The Fund has entered into
a plan of liquidation such that it anticipates making its final
liquidation on or about August 18, 2017. Once BHL’s common shares
have been suspended from trading on the NYSE, any subsequent
information pertaining to the Fund’s liquidation will be available
in the “Press Releases” section of
http://www.blackrock.com/CEF.
Other BlackRock Closed-End Funds
BlackRock manages approximately $10 billion in credit─based
closed-end funds as of June 30, 2017. Following BHL’s liquidation,
former BHL stockholders looking to re-invest their proceeds into a
similar strategy may consider:
BlackRock Debt Strategies Fund, Inc.
(NYSE:DSU)BlackRock Floating Rate Income Strategies Fund, Inc.
(NYSE: FRA)BlackRock Floating Rate Income Trust (NYSE: BGT).
Information relating to DSU, FRA and BGT is available at
www.blackrock.com/investing/products. Additional information about
DSU, FRA and BGT can be found in annual and semi-annual shareholder
reports and other filings available on the EDGAR Database on the
U.S. Securities and Exchange Commission’s website at
www.sec.gov.
About BlackRock
BlackRock is a global leader in investment management, risk
management and advisory services for institutional and retail
clients. At June 30, 2017, BlackRock’s AUM was $5.7 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 June
30, 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/20170726006376/en/
BlackRock Closed-End Funds1-800-882-0052
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