BlackRock Broad Investment Grade 2009 Term Trust Announces Additional Liquidation Details
October 05 2009 - 6:33PM
Business Wire
BlackRock Advisors, LLC and the Board of Directors of BlackRock
Broad Investment Grade 2009 Term Trust, Inc. (NYSE Amex:BCT) (the
“Trust”) today announced that, in connection with the Trust’s
liquidation, the Trust’s common shares will continue to trade the
“regular way” on the NYSE Amex through October 12, 2009 and will be
suspended from trading before the opening of trading on October 13,
2009.
As previously announced, the Trust has entered into a plan of
liquidation such that its final liquidating distribution will be
made on or about October 31, 2009. At final liquidation, investors
will receive the net asset value (“NAV”) of the Trust at that time
in one or more liquidating distributions that, when taken together,
are expected to be less than the Trust’s initial offering price. In
connection with its liquidation, the Trust has previously declared
a liquidating distribution on June 3, 2009 that is payable to
shareholders on October 29, 2009.
Once the Trust’s common shares have been suspended from trading
on the NYSE Amex, any subsequent information pertaining to the
Trust’s liquidation will be available in the “Closed-End Funds”
section of www.blackrock.com.
About BlackRock
BlackRock is one of the world’s largest publicly traded
investment management firms. At June 30, 2009, BlackRock’s assets
under management were $1.373 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.
With respect to each Trust, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes in political,
economic or industry conditions, the interest rate environment or
financial and capital markets, which could result in changes in the
Trust’s net asset value; (2) the performance of the Trust’s
investments; (3) the impact of increased competition; (4) the
extent and timing of any distributions or share repurchases; (5)
the impact of legislative and regulatory actions and reforms and
regulatory, supervisory or enforcement actions of government
agencies relating to the Trust or BlackRock, as applicable; (6)
BlackRock’s ability to attract and retain highly talented
professionals; and (7) 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.
The Annual and Semi-Annual Reports and other regulatory filings
of the Trust with the 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 Trust. The information contained on our website is
not a part of this press release.
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