BlackRock Advisors, LLC today announced the declaration of a
special distribution for BlackRock New York Municipal Bond Trust
(NYSE:BQH, CUSIP: 09249P106) in relation to the previously
announced merger with BlackRock New York Municipal Opportunities
Fund (“MENKX” and together with BQH, the “Funds”) an open-end
mutual fund and a series of BlackRock Multi-State Municipal Series
Trust, with MENKX being the surviving Fund (the “Merger”).
The special distribution declared today represents BQH’s regular
monthly distribution plus any undistributed net investment income
earned through the effective date of the Merger. In order to
maintain status as a regulated investment company and to avoid the
imposition of a corporate level income tax, BQH is required to
declare a distribution of all net investment income prior to the
consummation of the Merger as described below. Other than the
special distribution announced today, BQH will declare no further
distributions prior to or following the Merger. As this special
distribution includes all net investment income earned by BQH in
earlier periods and not previously distributed, it is not
indicative of the amount of MENKX’s future monthly
distributions.
BQH is declaring a special distribution that will be payable on
October 19, 2020. The ex-dividend date for the distribution is
October 9, 2020, and the record date is October 13, 2020.
Accordingly, persons who are holders of record of BQH common shares
on October 13, 2020 should expect to receive the distribution. The
distribution payable to shareholders of BQH will be paid in cash
and will not be eligible for dividend reinvestment. Common
shares of BQH acquired after October 8, 2020 will not be entitled
to the distribution.
It is currently expected that the Merger will be effective with
the open for business of the New York Stock Exchange (“NYSE”) on
October 26, 2020, subject to the satisfaction of customary closing
conditions and the prior redemption of all of BQH’s outstanding
variable rate demand preferred shares. To facilitate the Merger,
all shares of BQH will cease trading on the NYSE as of market close
on Monday, October 19, 2020. On Monday, October 26, 2020,
common shareholders of BQH who become shareholders of MENKX in the
Merger will hold MENKX. Common shareholders of BQH who become
shareholders of MENKX will receive newly issued Investor A Shares
of MENKX in the Merger.
The aggregate net asset value of MENKX Shares received by BQH
common shareholders will be equal to the aggregate net asset value
of the common shares of BQH held by its common shareholders, in
each case as of the close of business on the business day
immediately prior to the closing date of the Merger. Shares of
MENKX may be purchased or redeemed on any business day.
Distribution details are as follows:
Declaration- 10/1/2020 Ex-Date- 10/9/2020 Record-10/13/2020
Payable- 10/19/2020
Fund
Ticker
Distribution
BlackRock New York Municipal Bond
Trust
BQH
$0.122000
This press release is not intended to, and does not, constitute
an offer to purchase or sell shares of the Funds.
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, our clients turn to us for the
solutions they need when planning for their most important goals.
As of June 30, 2020, the firm managed approximately $7.32 trillion
in assets on behalf of investors worldwide. For additional
information on BlackRock, please visit www.blackrock.com/corporate
| Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock.
Availability of Fund Updates
BlackRock will update performance and certain other data for the
BlackRock closed-end 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 the
Funds may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Funds’ 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 the Funds’ net asset value; (2) the relative and absolute
investment performance of the Funds 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 Funds 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 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/20201001006128/en/
BlackRock Closed-End Funds 1-800-882-0052
BlackRock NY Muni (NYSE:BQH)
Historical Stock Chart
From Jul 2024 to Aug 2024
BlackRock NY Muni (NYSE:BQH)
Historical Stock Chart
From Aug 2023 to Aug 2024