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.govand 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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