BHK BlackRock Core Bond Trust

BlackRock Advisors, LLC (“BlackRock”) released today share repurchase activity for certain BlackRock-advised closed-end funds (the “Funds”) during the quarter ended September 30, 2023. The Funds have authorized open market share repurchase programs (the “Repurchase Programs”) pursuant to which each Fund may repurchase, through November 30, 2023, up to 5% of its outstanding common shares in open market transactions. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value (“NAV”) per share, which could result in incremental accretion to a Fund’s NAV.

• Since the initial Repurchase Program’s inception in 2016, BlackRock has repurchased over $1.1 billion in shares across the closed-end fund (“CEF”) complex, leading to over $184 million in NAV accretion.

• BlackRock repurchased over $153 million in shares across the entire CEF complex in the third quarter, leading to over $27 million in NAV accretion.

Below is a summary of share repurchase activity over this past quarter and since the inception of each Fund’s Repurchase Program:

Municipal CEFs

Summary of share repurchase activity during the most recent calendar quarter ended September 30, 2023:

Fund Name

Ticker

Number of Shares Repurchased

Total Amount of Shares Repurchased

Total Amount of NAV Accretion

Average Discount on Days Repurchased

BlackRock California Municipal Income Trust

BFZ

34,606

$385,787

$47,791

-11.2%

BlackRock MuniHoldings California Quality Fund, Inc.

MUC

735,540

$7,647,378

$1,341,702

-15.1%

BlackRock MuniHoldings New Jersey Quality Fund, Inc.

MUJ

312,775

$3,398,237

$574,036

-14.7%

BlackRock MuniYield Michigan Quality Fund, Inc.

MIY

153,763

$1,650,642

$281,853

-14.9%

BlackRock MuniYield Pennsylvania Quality Fund

MPA

42,618

$474,751

$63,876

-12.1%

BlackRock Virginia Municipal Bond Trust

BHV

9,633

$96,541

$16,212

-14.4%

BlackRock New York Municipal Income Trust

BNY

122,952

$1,217,057

$211,284

-15.1%

BlackRock MuniHoldings New York Quality Fund, Inc.

MHN

158,889

$1,585,881

$272,214

-14.9%

BlackRock MuniYield New York Quality Fund, Inc.

MYN

221,503

$2,147,910

$362,206

-14.8%

BlackRock MuniVest Fund, Inc.

MVF

340,658

$2,236,420

$376,409

-14.7%

BlackRock MuniVest Fund II, Inc.

MVT

166,496

$1,685,265

$291,106

-14.9%

BlackRock Municipal Income Fund, Inc.

MUI

483,701

$5,309,379

$870,034

-14.3%

BlackRock MuniYield Quality Fund, Inc.

MQY

562,040

$6,282,246

$906,467

-12.9%

BlackRock MuniYield Quality Fund II, Inc.

MQT

161,131

$1,574,826

$251,602

-14.1%

BlackRock Municipal Income Trust II

BLE

349,645

$3,495,946

$583,128

-14.5%

BlackRock Municipal Income Quality Trust

BYM

207,486

$2,220,992

$329,675

-13.1%

BlackRock Investment Quality Municipal Trust Inc.

BKN

148,704

$1,641,023

$242,627

-13.0%

BlackRock MuniYield Fund, Inc.

MYD

320,004

$3,199,424

$532,652

-14.4%

BlackRock Municipal Income Trust

BFK

395,136

$3,815,411

$646,636

-14.7%

BlackRock MuniYield Quality Fund III, Inc.

MYI

555,665

$5,829,800

$894,539

-13.5%

BlackRock MuniHoldings Quality Fund II, Inc.

MUE

240,199

$2,269,264

$397,475

-15.0%

BlackRock MuniHoldings Fund, Inc.

MHD

425,427

$4,779,984

$808,797

-14.7%

BlackRock MuniAssets Fund, Inc.

MUA

88,775

$826,505

$110,860

-12.3%

Summary of share repurchase activity since Repurchase Program inception as of September 30, 2023:

Fund Name

Ticker

Number of Shares Repurchased

Total Amount of Shares Repurchased

Total Amount of NAV Accretion

Average Discount on Days Repurchased

BlackRock California Municipal Income Trust

BFZ

1,663,310

$19,512,332

$3,071,465

-13.6%

BlackRock MuniHoldings California Quality Fund, Inc.

MUC

2,621,333

$28,301,909

$4,494,148

-14.2%

BlackRock MuniHoldings New Jersey Quality Fund, Inc.

MUJ

1,106,333

$12,552,142

$1,940,909

-14.0%

BlackRock MuniYield Michigan Quality Fund, Inc.

MIY

476,746

$5,370,544

$866,490

-14.3%

BlackRock MuniYield Pennsylvania Quality Fund

MPA

367,579

$4,241,328

$645,345

-12.9%

BlackRock Virginia Municipal Bond Trust

BHV

15,392

$157,923

$25,966

-14.2%

BlackRock New York Municipal Income Trust

BNY

401,087

$4,053,212

$692,198

-14.4%

BlackRock MuniHoldings New York Quality Fund, Inc.

MHN

704,554

$7,171,483

$1,121,240

-13.9%

BlackRock MuniYield New York Quality Fund, Inc.

MYN

1,005,789

$9,915,953

$1,549,492

-13.9%

BlackRock MuniVest Fund, Inc.

MVF

1,030,405

$6,903,752

$1,064,057

-13.8%

BlackRock MuniVest Fund II, Inc.

MVT

392,282

$4,085,532

$649,784

-14.0%

BlackRock Municipal Income Fund, Inc.

MUI

1,348,660

$15,345,720

$2,284,385

-13.4%

BlackRock MuniYield Quality Fund, Inc.

MQY

1,012,460

$11,476,304

$1,617,081

-12.6%

BlackRock MuniYield Quality Fund II, Inc.

MQT

339,561

$3,397,997

$512,709

-13.5%

BlackRock Municipal Income Trust II

BLE

833,204

$8,560,298

$1,325,686

-13.9%

BlackRock Municipal Income Quality Trust

BYM

330,309

$3,599,426

$514,021

-12.7%

BlackRock Investment Quality Municipal Trust Inc.

BKN

376,081

$4,187,507

$591,719

-12.8%

BlackRock MuniYield Fund, Inc.

MYD

749,894

$7,737,267

$1,185,618

-13.7%

BlackRock Municipal Income Trust

BFK

877,427

$8,609,992

$1,405,305

-14.3%

BlackRock MuniYield Quality Fund III, Inc.

MYI

1,020,790

$10,891,959

$1,598,590

-13.0%

BlackRock MuniHoldings Quality Fund II, Inc.

MUE

437,902

$4,200,900

$709,986

-14.5%

BlackRock MuniHoldings Fund, Inc.

MHD

887,327

$10,165,532

$1,650,197

-14.1%

BlackRock MuniAssets Fund, Inc.

MUA

88,775

$826,505

$110,860

-12.3%

Equity CEFs

Summary of share repurchase activity during the most recent calendar quarter ended September 30, 2023:

Fund Name

Ticker

Number of Shares Repurchased

Total Amount of Shares Repurchased

Total Amount of NAV Accretion

Average Discount on Days Repurchased

BlackRock Health Sciences Term Trust

BMEZ

1,515,753

$22,384,628

$4,276,401

-15.7%

BlackRock Innovation and Growth Term Trust

BIGZ

2,490,297

$17,319,181

$3,938,979

-19.0%

BlackRock Science and Technology Term Trust

BSTZ

845,159

$14,060,665

$3,213,653

-19.1%

BlackRock Resources & Commodities Strategy Trust

BCX

1,000,736

$9,420,661

$1,398,013

-13.2%

BlackRock Enhanced International Dividend Trust

BGY

660,810

$3,485,985

$497,831

-12.9%

BlackRock Enhanced Global Dividend Trust

BOE

351,426

$3,476,988

$534,150

-13.6%

BlackRock Energy and Resources Trust

BGR

214,134

$2,727,745

$361,972

-12.1%

Summary of share repurchase activity since Repurchase Program inception as of September 30, 2023:

Fund Name

Ticker

Number of Shares Repurchased

Total Amount of Shares Repurchased

Total Amount of NAV Accretion

Average Discount on Days Repurchased

BlackRock Innovation and Growth Term Trust

BIGZ

18,909,732

$176,860,365

$35,473,427

-18.5%

BlackRock Health Sciences Term Trust

BMEZ

6,155,567

$95,748,350

$17,702,027

-15.6%

BlackRock Science and Technology Term Trust

BSTZ

2,467,361

$41,616,419

$8,535,673

-16.7%

BlackRock Energy and Resources Trust

BGR

2,211,550

$22,631,112

$3,118,124

-12.3%

BlackRock Enhanced Equity Dividend Trust

BDJ

2,974,888

$23,626,347

$2,641,607

-10.1%

BlackRock Enhanced Global Dividend Trust

BOE

7,603,259

$77,598,471

$10,349,962

-12.2%

BlackRock Enhanced International Dividend Trust

BGY

9,274,687

$49,389,567

$6,386,285

-11.9%

BlackRock Resources & Commodities Strategy Trust

BCX

14,201,774

$116,163,619

$16,914,856

-13.1%

BlackRock Science and Technology Trust

BST

136,367

$2,799,570

$284,111

-9.1%

Multi-Asset CEFs

Summary of share repurchase activity during the most recent calendar quarter ended September 30, 2023:

Fund Name

Ticker

Number of Shares Repurchased

Total Amount of Shares Repurchased

Total Amount of NAV Accretion

Average Discount on Days Repurchased

BlackRock Capital Allocation Term Trust

BCAT

673,184

$9,718,056

$1,515,672

-13.8%

BlackRock ESG Capital Allocation Term Trust

ECAT

489,120

$7,268,837

$1,090,235

-13.4%

Summary of share repurchase activity since Repurchase Program inception as of September 30, 2023:

Fund Name

Ticker

Number of Shares Repurchased

Total Amount of Shares Repurchased

Total Amount of NAV Accretion

Average Discount on Days Repurchased

BlackRock Capital Allocation Term Trust

BCAT

5,127,654

$78,243,175

$13,254,684

-15.3%

BlackRock ESG Capital Allocation Term Trust

ECAT

3,814,731

$54,526,808

$10,776,340

-16.7%

Fixed Income CEFs

Summary of share repurchase activity during the most recent calendar quarter ended September 30, 2023:

No repurchases during the calendar quarter ended September 30, 2023.

Summary of share repurchase activity since Repurchase Program inception as of September 30, 2023:

Fund Name

Ticker

Number of Shares Repurchased

Total Amount of Shares Repurchased

Total Amount of NAV Accretion

Average Discount on Days Repurchased

BlackRock Corporate High Yield Fund, Inc.

HYT

4,695,612

$48,249,031

$6,328,699

-11.8%

BlackRock Credit Allocation Income Trust

BTZ

4,222,616

$52,321,626

$7,126,080

-12.1%

BlackRock Debt Strategies Fund, Inc.

DSU

4,887,450

$54,871,336

$5,651,691

-9.7%

BlackRock Floating Rate Income Strategies Fund, Inc.

FRA

2,000,291

$24,605,346

$3,520,574

-12.8%

BlackRock Floating Rate Income Trust

BGT

1,361,673

$15,886,943

$2,250,227

-12.4%

BlackRock Income Trust, Inc.

BKT

145,423

$854,488

$79,581

-8.7%

BlackRock Limited Duration Income Trust

BLW

1,341,749

$19,494,225

$2,522,574

-11.4%

BlackRock Multi-Sector Income Trust

BIT

884,028

$14,722,265

$1,722,801

-10.5%

The amount and timing of any repurchases under each Fund’s Repurchase Program will be determined either at the discretion of the Fund’s management or pursuant to predetermined parameters and instructions subject to market conditions. There is no assurance that any Fund will repurchase shares in any particular amounts. A Fund’s repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. Any repurchases made under any Repurchase Program will be made on a national securities exchange at the prevailing market price, subject to exchange requirements and certain volume and timing limitations and other regulations under federal securities laws.

About BlackRock

BlackRock’s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit www.blackrock.com/corporate | Twitter: @blackrock | LinkedIn: www.linkedin.com/company/blackrock

Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of 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 Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does 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 a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s 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.

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 the Funds, 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 Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a 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, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics 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 Funds 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 Funds. The information contained on BlackRock’s website is not a part of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20231010320811/en/

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