BlackRock Advisors, LLC today announced that BlackRock Municipal 2020 Term Trust (NYSE:BKK) provided a notice of the redemption of a portion of its issued and outstanding auction rate preferred shares (\u201cARPS\u201d).<\/P>
<\/P>
The redemptions announced today, which total $11.25 million in ARPS and represent 24.5% of BKK\u2019s 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 $9.78 billion across BlackRock taxable and tax-exempt closed-end funds (approximately 99.6% of the total ARPS outstanding as of February 2008).<\/P>
<\/P>
Please see redemption details for the Fund\u2019s respective series of ARPS below.<\/P>
<\/P>
BKK:<\/P>
Series \tCUSIP \tRedemption Date \t \t<\/P>
<\/P>
Total Shares to be<\/P>
Redeemed<\/P>
\t \t<\/P>
<\/P>
Aggregate Principal Amount to<\/P>
be Redeemed<\/P>
F-7 \t09249X406 \tJanuary 25, 2016 \t \t150 \t \t$3,750,000<\/P>
M-7 \t09249X208 \tJanuary 26, 2016 \t \t150 \t \t$3,750,000<\/P>
W-7 \t09249X307 \tJanuary 28, 2016 \t \t150 \t \t$3,750,000<\/P>
<\/P>
About BlackRock<\/P>
<\/P>
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At September 30, 2015, BlackRock\u2019s AUM was $4.506 trillion. BlackRock helps clients around the world 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®. As of September 30, 2015, the firm had approximately 12,900 employees in more than 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 the Company\u2019s website at www.blackrock.com | Twitter: @blackrock_news | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com\/company\/blackrock<\/P>
<\/P>
Availability of Fund Updates<\/P>
<\/P>
BlackRock will update performance and certain other data for the Fund on a monthly basis on its website in the \u201cClosed-end Funds\u201d section of http:\/\/www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Fund. This reference to BlackRock\u2019s website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate BlackRock\u2019s website in this release.<\/P>
<\/P>
Forward-Looking Statements<\/P>
<\/P>
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\u2019s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as \u201ctrend,\u201d \u201cpotential,\u201d \u201copportunity,\u201d \u201cpipeline,\u201d \u201cbelieve,\u201d \u201ccomfortable,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201ccurrent,\u201d \u201cintention,\u201d \u201cestimate,\u201d \u201cposition,\u201d \u201cassume,\u201d \u201coutlook,\u201d \u201ccontinue,\u201d \u201cremain,\u201d \u201cmaintain,\u201d \u201csustain,\u201d \u201cseek,\u201d \u201cachieve,\u201d and similar expressions, or future or conditional verbs such as \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cmay\u201d or similar expressions.<\/P>
<\/P>
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.<\/P>
<\/P>
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\u2019s 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\u2019s 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.<\/P>
<\/P>
Annual and Semi-Annual Reports and other regulatory filings of the Fund with the Securities and Exchange Commission (\u201cSEC\u201d) are accessible on the SEC’s website at www.sec.gov and on BlackRock\u2019s website at www.blackrock.com, and may discuss these or other factors that affect the Fund. The information contained on BlackRock\u2019s website is not a part of this press release.<\/P>
<\/P>
Contacts<\/P>
<\/P>
BlackRock<\/P>
1-800-882-0052<\/P>
<\/P>
Source: BlackRock<\/P><\/p>\n","protected":false},"excerpt":{"rendered":"
BlackRock Advisors, LLC today announced that BlackRock Municipal 2020 Term Trust (NYSE:BKK) provided a notice of the redemption of a portion of its issued and outstanding auction rate preferred shares (“ARPS”).<\/p>\n<\/p>\n
The redemptions announced today, which total $11.25 million in ARPS and represent 24.5% 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 $9.78 billion across BlackRock taxable and tax-exempt closed-end funds (approximately 99.6% of the total ARPS outstanding as of February 2008).<\/p>\n<\/p>\n
Please see redemption details for the Fund’s respective series of ARPS below.<\/p>\n<\/p>\n
BKK:<\/p>\n
Series \tCUSIP \tRedemption Date \t \t<\/p>\n<\/p>\n
Total Shares to be<\/p>\n
Redeemed<\/p>\n<\/p>\n
Aggregate Principal Amount to<\/p>\n
be Redeemed<\/p>\n
F-7 \t09249X406 \tJanuary 25, 2016 \t \t150 \t \t$3,750,000<\/p>\n
M-7 \t09249X208 \tJanuary 26, 2016 \t \t150 \t \t$3,750,000<\/p>\n
W-7 \t09249X307 \tJanuary 28, 2016 \t \t150 \t \t$3,750,000<\/p>\n<\/p>\n
About BlackRock<\/p>\n<\/p>\n
BlackRock is a global leader in investment management, risk management and advisory services for institutional and retail clients. At September 30, 2015, BlackRock’s AUM was $4.506 trillion. BlackRock helps clients around the world 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®. As of September 30, 2015, the firm had approximately 12,900 employees in more than 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 the Company’s website at www.blackrock.com | Twitter: @blackrock_news | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com\/company\/blackrock<\/p>\n<\/p>\n
Availability of Fund Updates<\/p>\n<\/p>\n
BlackRock will update performance and certain other data for the Fund on a monthly basis on its website in the “Closed-end Funds” section of http:\/\/www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Fund. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate BlackRock’s website in this release.<\/p>\n<\/p>\n
Forward-Looking Statements<\/p>\n<\/p>\n
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 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.<\/p>\n<\/p>\n
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.<\/p>\n<\/p>\n
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.<\/p>\n<\/p>\n
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.<\/p>\n<\/p>\n
Contacts<\/p>\n<\/p>\n
BlackRock<\/p>\n
1-800-882-0052<\/p>\n<\/p>\n
Source: BlackRock<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"yoast_head":"\n