By Stephanie N. Rotondo
Portland, Ore., May 17 - BlackRock MuniYield Investment Fund Inc. priced a $59.4 million Rule 144A private placement of variable-rate demand preferred shares, according to a press release.
The sale was part of an $855.1 million offering of variable-rate demand preferreds by various BlackRock Advisors LLC-managed funds.
Proceeds will be used to redeem all of the fund's outstanding auction-rate preferred shares.
Settlement is expected by Thursday.
BlackRock is based in New York.
| Issuer: | BlackRock MuniYield Investment Fund Inc.
|
| Securities: | Variable-rate demand preferred shares
|
| Amount: | $59.4 million
|
| Distribution: | Rule 144A offering
|
| Pricing date: | May 17
|
| Settlement date: | May 19
|
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