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| Share Name | Share Symbol | Market | Type |
|---|---|---|---|
| Blackrock California Insured Municipal Income Trust | NYSE:BCK | NYSE | Ordinary Share |
| Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
|---|---|---|---|---|---|---|---|---|
| 0.00 | 0.00% | 12.69 | 0.00 | 01:00:00 |
From Jul 2019 to Jul 2024
BlackRock, Inc. (NYSE:BLK) today announced the dates for the partial redemptions of auction rate preferred shares (ARPS) issued by 49 of the 60 BlackRock tax-exempt fixed income closed-end funds that currently have ARPS outstanding. The announced redemptions total approximately $488 million and, when taken together with BlackRock’s previously announced redemptions of ARPS, represent more than $3.19 billion of BlackRock’s total outstanding ARPS issued across 66 of its taxable and tax-exempt closed-end funds.
Each of the funds will be using tender option bonds (TOBs) to finance the partial redemption of its ARPS. TOBs are floating rate securities issued by trusts into which a fund has deposited municipal securities. The amount of ARPS being redeemed at this time varies by fund and ranges from 0.4% to 35.8% of the ARPS outstanding for each fund. The ability to utilize TOBs in place of ARPS varies by each fund based, in part, on the eligibility of its underlying municipal bonds for TOBs programs. ARPS refinancing utilizing TOBs is not currently feasible for certain BlackRock funds where the availability of a fund’s municipal bonds eligible for creating TOBs is limited. The extent to which a fund is able to use TOBs to redeem ARPS depends on market conditions, the fund’s portfolio composition, the cost of liquidity and the willingness of liquidity providers to support TOBs, among other factors.
Redemptions will be allocated pro rata among the various series of ARPS of each fund. The Depository Trust Company (DTC), the securities’ holder of record, will determine by random lottery how a partial series redemption will be allocated among each participant broker-dealer account and each participant broker-dealer will determine how to allocate each redemption among the holders of the relevant series of ARPS held by it.
For more information on the specific BlackRock tax-exempt fixed income closed-end fund ARPS that are to be redeemed, including CUSIP numbers and redemption dates, please see the redemption schedule included in this press release.
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.
Redemption Schedule
ARPS Issued by BlackRock Tax-Exempt Fixed Income Closed-End Funds
BlackRock Insured Municipal Income Investment Trust (NYSE:BAF)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
M7 09250G201 July 14, 2009 84 $2,100,000(Represents 4.7% of total outstanding ARPS to be redeemed)
BlackRock Municipal Income Investment Trust (NYSE:BBF)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
T7 09248H204 July 8, 2009 612 $15,300,000(Represents 30.9% of total outstanding ARPS to be redeemed)
BlackRock Municipal Bond Trust (NYSE:BBK)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
T7 09249H203 July 8, 2009 12 $300,000 R7 09249H302 July 10, 2009 12 $300,000(Represents 0.7% of total outstanding ARPS to be redeemed)
BlackRock California Insured Municipal Income Trust (NYSE:BCK)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
F7 092484203 July 13, 2009 249 $6,225,000(Represents 16.6% of total outstanding ARPS to be redeemed)
BlackRock California Municipal Income Trust II (NYSE AMEX:BCL)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
T7 09249S209 July 8, 2009 264 $6,600,000 R7 09249S308 July 10, 2009 264 $6,600,000(Represents 22.1% of total outstanding ARPS to be redeemed)
BlackRock Municipal Income Trust (NYSE:BFK)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
M7 09248F208 July 14, 2009 178 $4,450,000 T7 09248F307 July 8, 2009 178 $4,450,000 W7 09248F406 July 9, 2009 178 $4,450,000 R7 09248F505 July 10, 2009 178 $4,450,000 F7 09248F604 July 13, 2009 178 $4,450,000(Represents 7.6% of total outstanding ARPS to be redeemed)
BlackRock New York Municipal Income Trust II (NYSE AMEX:BFY)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
W7 09249R201 July 9, 2009 7 175,000(Represents 0.4% of total outstanding ARPS to be redeemed)
BlackRock California Municipal Income Trust (NYSE:BFZ)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
T7 09248E201 July 8, 2009 598 $14,950,000 R7 09248E300 July 10, 2009 598 $14,950,000(Represents 29.6% of total outstanding ARPS to be redeemed)
BlackRock Virginia Municipal Bond Trust (NYSE AMEX:BHV)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
R7 092481209 July 10,2009 20 $500,000(Represents 4.1% of total outstanding ARPS to be redeemed)
BlackRock Municipal Bond Investment Trust (NYSE:BIE)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
W7 09249K206 July 9, 2009 333 $8,325,000(Represents 31.8% of total outstanding ARPS to be redeemed)
BlackRock Investment Quality Municipal Trust, Inc. (NYSE:BKN)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
T7 09247D204 July 8, 2009 22 $550,000 T28 09247D303 July 8, 2009 18 $450,000(Represents 0.8% of total outstanding ARPS to be redeemed)
BlackRock Municipal Income Trust II (NYSE AMEX:BLE)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
M7 09249N200 July 14, 2009 147 $3,675,000 T7 09249N309 July 8, 2009 148 $3,700,000 W7 09249N408 July 9, 2009 147 $3,675,000 R7 09249N507 July 10, 2009 148 $3,700,000(Represents 8.9% of total outstanding ARPS to be redeemed)
BlackRock New Jersey Municipal Bond Trust (NYSE AMEX:BLJ)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
M7 09249A208 July 14, 2009 17 $425,000(Represents 2.2% of total outstanding ARPS to be redeemed)
BlackRock New Jersey Municipal Income Trust (NYSE:BNJ)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
R7 09248J200 July 10, 2009 55 $1,375,000(Represents 2.3% of total outstanding ARPS to be redeemed)
BlackRock New York Municipal Income Trust (NYSE:BNY)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
W7 09248L205 July 9, 2009 27 $675,000 F7 09248L304 July 13, 2009 27 $675,000(Represents 1.4% of total outstanding ARPS to be redeemed)
BlackRock Pennsylvania Strategic Municipal Trust (NYSE AMEX:BPS)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
W7 09248R202 July 9, 2009 20 $500,000(Represents 3.0% of total outstanding ARPS to be redeemed)
BlackRock New York Municipal Bond Trust (NYSE:BQH)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
T7 09249P205 July 8, 2009 11 $275,000(Represents 1.2% of total outstanding ARPS to be redeemed)
BlackRock Strategic Municipal Trust (NYSE:BSD)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
W7 09248T208 July 9, 2009 191 $4,775,000(Represents 10.0% of total outstanding ARPS to be redeemed)
BlackRock New York Insured Municipal Income Trust (NYSE:BSE)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
R7 09249U204 July 10, 2009 44 $1,100,000(Represents 2.6% of total outstanding ARPS to be redeemed)
BlackRock Insured Municipal Income Trust (NYSE:BYM)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
M7 092479203 July 14, 2009 169 $4,225,000 R7 092479302 July 10, 2009 169 $4,225,000 F7 092479401 July 13, 2009 169 $4,225,000(Represents 8.5% of total outstanding ARPS to be redeemed)
BlackRock California Municipal Bond Trust (NYSE:BZA)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
F7 09249J209 July 13, 2009 221 $5,525,000(Represents 19.7% of total outstanding ARPS to be redeemed)
BlackRock MuniYield California Insured Fund, Inc. (NYSE:MCA)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254N202 August 3, 2009 169 $4,225,000 B 09254N301 July 13, 2009 169 $4,225,000 C 09254N400 July 8, 2009 150 $3,750,000 D 09254N509 July 10, 2009 187 $4,675,000 E 09254N608 July 6, 2009 187 $4,675,000 F 09254N707 July 9, 2009 169 $4,225,000(Represents 13.4% of total outstanding ARPS to be redeemed)
BlackRock MuniEnhanced Fund, Inc. (NYSE:MEN)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09253Y209 July 14, 2009 174 $4,350,000 B 09253Y308 July 21, 2009 174 $4,350,000 C 09253Y407 June 30, 2009 174 $4,350,000 D 09253Y506 July 6, 2009 129 $3,225,000(Represents 10.2% of total outstanding ARPS to be redeemed)
BlackRock MuniHoldings Insured Investment Fund (NYSE:MFL)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254P207 July 8, 2009 124 $3,100,000 B 09254P306 July 6, 2009 207 $5,175,000 C 09254P405 July 7, 2009 203 $5,075,000 D 09254P504 July 9, 2009 128 $3,200,000 E 09254P603 July 6, 2009 197 $4,925,000(Represents 7.3% of total outstanding ARPS to be redeemed)
BlackRock MuniYield Insured Investment Fund (NYSE:MFT)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254T209 July 14, 2009 191 $4,775,000 B 09254T308 July 9, 2009 38 $950,000(Represents 9.2% of total outstanding ARPS to be redeemed)
BlackRock MuniHoldings Fund, Inc. (NYSE:MHD)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09253N203 July 8, 2009 145 $3,625,000 B 09253N302 July 6, 2009 145 $3,625,000 C 09253N401 July 7, 2009 39 $975,000(Represents 8.9% of total outstanding ARPS to be redeemed)
BlackRock MuniHoldings New York Insured Fund, Inc. (NYSE:MHN)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09255C205 July 9, 2009 56 $1,400,000 B 09255C304 July 6, 2009 56 $1,400,000 C 09255C403 July 7, 2009 90 $2,250,000 D 09255C502 July 6, 2009 109 $2,725,000 E 09255C601 July 8, 2009 59 $1,475,000(Represents 3.7% of total outstanding ARPS to be redeemed)
BlackRock MuniYield New Jersey Insured Fund, Inc. (NYSE:MJI)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09255A209 July 6, 2009 37 $925,000 B 09255A308 July 6, 2009 12 $300,000(Represents 1.9% of total outstanding ARPS to be redeemed)
BlackRock MuniYield Pennsylvania Insured Fund (NYSE:MPA)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09255G206 July 14, 2009 173 $4,325,000 B 09255G305 July 8, 2009 208 $5,200,000 C 09255G404 July 6, 2009 61 $1,525,000(Represents 14.3% of total outstanding ARPS to be redeemed)
BlackRock MuniYield Quality Fund II, Inc. (NYSE:MQT)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254G207 August 3, 2009 146 $3,650,000 B 09254G306 July 13, 2009 146 $3,650,000 C 09254G405 July 13, 2009 146 $3,650,000 D 09254G504 July 7, 2009 29 $725,000(Represents 9.1% of total outstanding ARPS to be redeemed)
BlackRock MuniYield Quality Fund, Inc. (NYSE:MQY)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254F209 August 4, 2009 123 $3,075,000 B 09254F308 July 14, 2009 123 $3,075,000 C 09254F407 July 17, 2009 123 $3,075,000 D 09254F506 July 10, 2009 123 $3,075,000 E 09254F605 July 6, 2009 123 $3,075,000(Represents 8.0% of total outstanding ARPS to be redeemed)
BlackRock MuniHoldings California Insured Fund, Inc. (NYSE:MUC)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254L206 July 7, 2009 164 $4,100,000 B 09254L305 July 6, 2009 332 $8,300,000 C 09254L404 July 6, 2009 274 $6,850,000 D 09254L503 July 9, 2009 253 $6,325,000 E 09254L602 July 8, 2009 312 $7,800,000(Represents 11.6% of total outstanding ARPS to be redeemed)
BlackRock MuniHoldings Insured Fund II, Inc. (NYSE:MUE)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254C206 July 6, 2009 147 $3,675,000 B 09254C305 July 9, 2009 147 $3,675,000 C 09254C404 July 8, 2009 278 $6,950,000(Represents 9.8% of total outstanding ARPS to be redeemed)
BlackRock MuniHoldings Fund II, Inc. (NYSE:MUH)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09253P208 July 8, 2009 119 $2,975,000 B 09253P307 July 6, 2009 119 $2,975,000(Represents 9.8% of total outstanding ARPS to be redeemed)
BlackRock MuniHoldings New Jersey Insured Fund, Inc. (NYSE:MUJ)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254X200 July 7, 2009 27 $675,000 B 09254X309 July 6, 2009 27 $675,000 C 09254X408 July 8, 2009 47 $1,175,000 D 09254X507 July 9, 2009 37 $925,000 E 09254X606 July 6, 2009 22 $550,000(Represents 2.3% of total outstanding ARPS to be redeemed)
BlackRock MuniHoldings Insured Fund, Inc. (NYSE:MUS)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254A200 July 6, 2009 144 $3,600,000 B 09254A309 July 7, 2009 144 $3,600,000(Represents 7.6% of total outstanding ARPS to be redeemed)
BlackRock MuniVest Fund, Inc. (NYSE AMEX:MVF)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09253R204 June 29, 2009 191 $4,775,000 B 09253R303 July 6, 2009 191 $4,775,000 C 09253R402 July 13, 2009 191 $4,775,000 D 09253R501 July 20, 2009 191 $4,775,000 E 09253R600 June 29, 2009 286 $7,150,000 F 09253R709 July 8, 2009 225 $5,625,000(Represents 11.6% of total outstanding ARPS to be redeemed)
BlackRock MuniVest Fund II, Inc. (NYSE:MVT)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09253T200 July 30, 2009 111 $2,775,000 B 09253T309 July 9, 2009 111 $2,775,000 C 09253T408 July 9, 2009 111 $2,775,000 D 09253T507 July 7, 2009 99 $2,475,000(Represents 7.2% of total outstanding ARPS to be redeemed)
BlackRock MuniYield California Fund, Inc. (NYSE:MYC)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254M204 July 9, 2009 282 $7,050,000 B 09254M303 July 2, 2009 282 $7,050,000 C 09254M402 July 30, 2009 94 $2,350,000 D 09254M501 July 7, 2009 164 $4,100,000(Represents 16.2% of total outstanding ARPS to be redeemed)
BlackRock MuniYield Fund, Inc. (NYSE:MYD)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09253W203 July 29, 2009 105 $2,625,000 B 09253W302 July 8, 2009 105 $2,625,000 C 09253W401 July 22, 2009 105 $2,625,000 D 09253W500 July 15, 2009 105 $2,625,000 E 09253W609 July 8, 2009 164 $4,100,000 F 09253W708 July 9, 2009 101 $2,525,000 G 09253W807 July 6, 2009 117 $2,925,000(Represents 7.4% of total outstanding ARPS to be redeemed)
BlackRock MuniYield Investment Fund (NYSE:MYF)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254R203 July 2, 2009 627 $15,675,000 B 09254R302 July 6, 2009 456 $11,400,000 C 09254R401 July 8, 2009 171 $4,275,000(Represents 34.5% of total outstanding ARPS to be redeemed)
BlackRock MuniYield Insured Fund, Inc. (NYSE:MYI)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254E202 July 23, 2009 80 $2,000,000 B 09254E301 July 30, 2009 80 $2,000,000 C 09254E400 July 9, 2009 80 $2,000,000 D 09254E509 July 16, 2009 80 $2,000,000 E 09254E608 July 9, 2009 145 $3,625,000 F 09254E707 August 4, 2009 87 $2,175,000 G 09254E806 July 14, 2009 87 $2,175,000 H 09254E889 July 6, 2009 95 $2,375,000 I 09254E871 July 6, 2009 95 $2,375,000(Represents 5.5% of total outstanding ARPS to be redeemed)
BlackRock MuniYield New Jersey Fund, Inc. (NYSE:MYJ)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254Y208 July 9, 2009 51 $1,275,000 B 09254Y307 July 8, 2009 32 $800,000 C 09254Y406 July 7, 2009 18 $450,000(Represents 2.4% of total outstanding ARPS to be redeemed)
BlackRock MuniYield New York Insured Fund, Inc. (NYSE:MYN)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09255E201 July 21, 2009 66 $1,650,000 B 09255E300 June 30, 2009 66 $1,650,000 C 09255E409 July 6, 2009 108 $2,700,000 D 09255E508 July 8, 2009 76 $1,900,000 E 09255E607 July 16, 2009 85 $2,125,000 F 09255E706 July 6, 2009 70 $1,750,000(Represents 4.5% of total outstanding ARPS to be redeemed)
BlackRock MuniYield Arizona Fund, Inc. (NYSE AMEX:MZA)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
A 09254K208 July 9, 2009 19 $475,000 B 09254K307 July 14, 2009 26 $650,000 C 09254K406 July 6, 2009 15 $375,000(Represents 3.7% of total outstanding ARPS to be redeemed)
BlackRock California Investment Quality Municipal Trust, Inc. (NYSE AMEX:RAA)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
W7 09247U206 July 9, 2009 36 $900,000(Represents 13.2% of total outstanding ARPS to be redeemed)
BlackRock Investment Quality Municipal Income Trust (NYSE AMEX:RFA)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
R7 09247B208 July 10, 2009 102 $2,550,000(Represents 35.8% of total outstanding ARPS to be redeemed)
BlackRock New Jersey Investment Quality Municipal Trust, Inc. (NYSE AMEX:RNJ)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
T7 09247C206 July 8, 2009 7 $175,000(Represents 2.5% of total outstanding ARPS to be redeemed)
BlackRock New York Investment Quality Municipal Trust, Inc. (NYSE AMEX:RNY)
Series CUSIP Redemption DateTotal Shares to be
Redeemed
Aggregate Principal
Amount to be Redeemed
F7 09247E202 July 13, 2009 3 $75,000(Represents 0.8% of total outstanding ARPS to be redeemed)
About BlackRock
BlackRock is one of the world’s largest publicly traded investment management firms. At March 31, 2009, BlackRock’s assets under management were $1.283 trillion. The firm manages assets on behalf of institutions and individuals worldwide through a variety of equity, fixed income, cash management and alternative investment products. In addition, a growing number of institutional investors use BlackRock Solutions® investment system, risk management and financial advisory services. The firm is headquartered in New York City and has employees in 21 countries throughout the U.S., Europe and Asia Pacific. 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.
The following factors, among others, could cause actual results to differ materially from forward-looking statements or historical occurrences: (1) the ability of the BlackRock closed-end funds that have announced these refinancing plans to implement those plans on a timely basis; (2) the ability of other BlackRock closed-end funds that have issued ARPS but that are not announcing a refinancing plan today to develop and finalize fund-by-fund specific proposals to restructure the leverage of such funds; (3) the need for such other BlackRock closed-end funds to obtain formal fund-by-fund board approval of certain types of specific proposals as they are developed and finalized; (4) the ability of such other BlackRock closed-end funds to negotiate and obtain from broker dealers or other financial institutions the put commitments necessary to make the ARPS eligible for purchase by money market funds on terms acceptable to the BlackRock closed-end funds and in a timely manner; (5) the acceptance by the market, and demand for, ARPS with a put feature in amounts sufficient for such other BlackRock closed-end funds to find investors for all or a portion of their leverage; (6) the need to obtain any necessary regulatory approvals to make the ARPS eligible for purchase by money market funds or for the implementation of such other BlackRock closed-end funds’ plan to restructure their leverage; (7) the effects of changes in market and economic conditions; (8) the impact of legislative and regulatory actions and reforms and regulatory, supervisory or enforcement actions of government agencies relating to BlackRock, Barclays PLC, Bank of America, Merrill Lynch or PNC; (9) other legal and regulatory developments; and (10) other additional risks and uncertainties.
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