Certain BlackRock Municipal Closed-End Funds Announce Variable Rate Muni Term Preferred Shares Actions

BlackRock Advisors, LLC today announced BlackRock Municipal Income Trust (NYSE: BFK), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN), BlackRock Municipal Income Trust II (NYSE: BLE), BlackRock Municipal Income Quality Trust (NYSE: BYM), BlackRock MuniHoldings Fund, Inc. (NYSE: MHD), BlackRock MuniYield Quality Fund II, Inc. (NYSE: MQT), BlackRock MuniHoldings Quality Fund II, Inc. (NYSE: MUE), BlackRock MuniVest Fund, Inc. (NYSE: MVF), and BlackRock MuniVest Fund II, Inc. (NYSE: MVT) (collectively, the “Funds”) intend to redeem a portion of their outstanding Series W-7 Variable Rate Muni Term Preferred Shares (“VMTP Shares”) on or about November 24, 2023, at a redemption price equal to the liquidation preference of $100,000 per share, together with accumulated and unpaid dividends through the day prior to the redemption date. Shareholders are expected to benefit from lower expenses as a result of the redemptions. For more details on each Fund and its VMTP Shares see below:

Fund Name

Ticker

VMTP Details

VMTP CUSIP

VMTP Shares to be Redeemed

BlackRock Municipal Income Trust

BFK

Series W-7 Variable Rate Muni Term Preferred Shares

09248F703

1,167

BlackRock Investment Quality Municipal Trust, Inc.

BKN

Series W-7 Variable Rate Muni Term Preferred Shares

09247D501

581

BlackRock Municipal Income Trust II

BLE

Series W-7 Variable Rate Muni Term Preferred Shares

09249N606

1,286

BlackRock Municipal Income Quality Trust

BYM

Series W-7 Variable Rate Muni Term Preferred Shares

092479500

396

BlackRock MuniHoldings Fund, Inc.

MHD

Series W-7 Variable Rate Muni Term Preferred Shares

09253N500

1,338

BlackRock MuniYield Quality Fund II, Inc.

MQT

Series W-7 Variable Rate Muni Term Preferred Shares

09254G603

379

BlackRock MuniHoldings Quality Fund II, Inc.

MUE

Series W-7 Variable Rate Muni Term Preferred Shares

09254C503

530

BlackRock MuniVest Fund, Inc.

MVF

Series W-7 Variable Rate Muni Term Preferred Shares

09253R808

902

BlackRock MuniVest Fund II, Inc.

MVT

Series W-7 Variable Rate Muni Term Preferred Shares

09253T606

623

This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

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Annual and Semi-Annual Reports and other regulatory filings of each 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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