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BlackRock New Jersey holders obtain new preferreds in reorganization
By Sarah Lizee
Olympia, Wash., June 11 – BlackRock Advisors, LLC said that BlackRock New Jersey Municipal Bond Trust and BlackRock New Jersey Municipal Income Trust preferred shareholders received on a one-for-one basis BlackRock MuniYield New Jersey Fund, Inc. preferred shares in connection with the reorganization of the three closed-end funds.
The company announced in a Monday press release the reorganizations of BlackRock New Jersey Municipal Bond Trust and BlackRock New Jersey Municipal Income Trust with and into BlackRock MuniYield New Jersey Fund.
The preferreds were received in an amount equal to the total preferred share liquidation preference held by BlackRock New Jersey Municipal Bond Trust and BlackRock New Jersey Municipal Income Trust preferred shareholders immediately prior to the reorganizations.
BlackRock is an investment management firm based in New York.
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