BlackRock Credit Allocation Income Trust Announces Commencement of Tender Offer
January 02 2020 - 4:30PM
Business Wire
BlackRock Credit Allocation Income Trust (the
“Fund”) (NYSE: BTZ, CUSIP: 092508100) announced that it has today
commenced a tender offer (the “Tender Offer”).
As previously announced, the Fund will purchase for cash up to
10% of its outstanding common shares of beneficial interest, at a
price equal to 98% of the net asset value (“NAV”) per share as
determined on the business day on which the Tender Offer expires.
The Tender Offer will expire on February 3, 2020 at 5:00 p.m.
Eastern time, unless otherwise extended.
The terms and conditions of the Tender Offer are set forth in
the Fund’s Offer to Purchase and related Letter of Transmittal that
have been filed with the Securities and Exchange Commission (the
“SEC”).
Important Notice
This press release is for informational purposes only and shall
not constitute an offer or a solicitation to buy any common shares.
The offer to purchase Fund common shares is being made only
pursuant to an offer on Schedule TO. COMMON SHAREHOLDERS ARE URGED
TO READ THE OFFER TO PURCHASE AND ANY SOLICITATION/RECOMMENDATION
STATEMENT REGARDING THE TENDER OFFER, AS THEY MAY BE AMENDED OR
SUPPLEMENTED FROM TIME TO TIME, BECAUSE THEY CONTAIN IMPORTANT
INFORMATION THAT HOLDERS OF COMMON SHARES SHOULD CONSIDER BEFORE
MAKING ANY DECISION REGARDING TENDERING THEIR SHARES. Common
shareholders may obtain a free copy of any of these statements and
other documents filed with the SEC at the website maintained by the
SEC at www.sec.gov or by directing such requests to the Fund.
About BlackRock
BlackRock helps investors build better financial futures. As a
fiduciary to investors and a leading provider of financial
technology, our clients turn to us for the solutions they need when
planning for their most important goals. As of September 30, 2019,
the firm managed approximately $6.96 trillion in assets on behalf
of investors worldwide. For additional information on BlackRock,
please visit www.blackrock.com | Twitter: @blackrock | Blog:
www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock
Availability of Fund Updates
BlackRock will update performance and certain other data for the
BlackRock closed-end funds 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 the
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the 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
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 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) 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 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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