BlackRock Advisors, LLC announced today that, at a special
meeting of shareholders of BlackRock Senior High Income Fund, Inc.
(NYSE:ARK), BlackRock Strategic Bond Trust (NYSE:BHD) and BlackRock
Debt Strategies Fund, Inc. (NYSE:DSU) (collectively, the “Funds”),
the shareholders of the Funds have approved the reorganization of
each of ARK and BHD into DSU, with DSU continuing as the surviving
Fund (each, a “Reorganization”).
It is currently expected that the Reorganizations will be
effective with the open for business of the New York Stock Exchange
on December 9, 2013, subject to all regulatory requirements and
customary closing conditions being satisfied. The Reorganizations,
if completed, would occur based on the relative net asset values of
(i) ARK and DSU and (ii) BHD and DSU, respectively.
Additional Information about the Reorganizations and Where to
Find It
This press release is not intended to, and does not, constitute
an offer to purchase or sell shares of any of the Funds; nor is
this press release intended to solicit a proxy from any shareholder
of any of the Funds.
The Funds and their respective directors, trustees, officers and
employees, and BlackRock, and its shareholders, officers and
employees and other persons may be deemed to be participants in the
solicitation of proxies with respect to the Reorganizations.
Investors and shareholders may obtain more detailed information
regarding the direct and indirect interests of the Funds'
respective directors, trustees, officers and employees, and
BlackRock and its shareholders, officers and employees and other
persons by reading the Joint Proxy Statement/Prospectus regarding
the Reorganizations, which was filed with the Securities and
Exchange Commission (the “SEC”) on September 10, 2013.
INVESTORS AND SECURITY HOLDERS OF THE FUNDS ARE URGED TO READ
THE JOINT PROXY STATEMENT/PROSPECTUS AND OTHER DOCUMENTS FILED WITH
THE SEC CAREFULLY AND IN THEIR ENTIRETY BECAUSE THESE DOCUMENTS
WILL CONTAIN IMPORTANT INFORMATION ABOUT THE REORGANIZATIONS.
INVESTORS SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES
AND EXPENSES OF THE FUNDS CAREFULLY. THE JOINT PROXY
STATEMENT/PROSPECTUS CONTAINS INFORMATION WITH RESPECT TO THE
INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE FUNDS AND
OTHER IMPORTANT INFORMATION ABOUT THE FUNDS. The Joint Proxy
Statement/Prospectus does not constitute an offer to sell
securities, nor does it constitute a solicitation of an offer to
buy securities, in any state where such offer or sale is not
permitted.
Security holders may obtain free copies of the Registration
Statement and Joint Proxy Statement/Prospectus and other documents
filed with the SEC at the SEC's web site at www.sec.gov. In
addition, free copies of the Joint Proxy Statement/Prospectus and
other documents filed with the SEC may also be obtained by
directing a request to BlackRock at (800) 882-0052.
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At September 30, 2013, BlackRock’s assets under
management were $4.096 trillion. BlackRock helps clients 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®.
Headquartered in New York City, as of September 30, 2013, the firm
had approximately 11,200 employees in 30 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 BlackRock’s website at
www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock or the
Funds may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Funds 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 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 Funds 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 Funds 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 Funds. The information
contained on BlackRock’s website is not a part of this press
release.
BlackRock Closed-End Funds1-800-882-0052
Blackrock Senior High Income Fund, Inc. (NYSE:ARK)
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