BlackRock Municipal 2020 Term Trust Announces Full Redemption of Auction Rate Preferred Shares
08 Novembro 2017 - 7:30PM
Business Wire
BlackRock Advisors, LLC today announced that BlackRock Municipal
2020 Term Trust (NYSE:BKK) provided a notice of the redemption of
all of its issued and outstanding auction rate preferred shares
(“ARPS”).
The redemptions announced today, which total $4.2 million in
ARPS and represent 100% of BKK’s ARPS currently outstanding, will
be conducted at a liquidation preference of $25,000 per share,
together with accrued and unpaid dividends thereon to the
redemption date, if applicable. When taken together with previously
announced redemptions of ARPS by BlackRock closed-end funds, these
redemptions total approximately $9.93 billion across BlackRock
taxable and tax-exempt closed-end funds (100% of the total ARPS
outstanding as of February 2008).
Please see redemption details for the Fund’s respective series
of ARPS below.
BKK:
Series
CUSIP Redemption Date
Total Sharesto be Redeemed
Aggregate
Principal Amountto be Redeemed
F-7 09249X406 December 4,
2017 56 $1,400,000 M-7
09249X208 November 28,
2017 56 $1,400,000 W-7
09249X307 November 30,
2017 56 $1,400,000
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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 or BlackRock’s future financial or business
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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 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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