BlackRock Advisors announces details on preferred share redemptions

By Tali David

Minneapolis, Jan. 2 - BlackRock Advisors, LLC provided details for the redemption of auction preferred shares issued by five term trusts, according to N-23C-2 filings with the Securities and Exchange Commission:

• The BlackRock New York Municipal 2018 Term Trust will redeem $5,575,000 of T-7 auction market shares on Jan. 23;

• The BlackRock Municipal 2018 Term Trust will redeem $17.85 million of W-7 auction market shares on Jan. 24 and $17.85 million of R-7 shares on Jan. 25;

• The BlackRock California Municipal 2018 Term Trust will redeem $6,525,000 of M-7 auction market shares on Jan. 22;

• The BlackRock Florida Municipal 2020 Term Trust will redeem $3.3 million of F-7 auction preferred shares on Jan. 22; and

• The BlackRock Municipal 2020 Term Trust will redeem $3.55 million of F-7 auction preferred shares on Jan. 22, $3.55 million of M-7 shares on Jan. 22 and $3.55 million of W-7 shares on Jan. 24.

The liquidation price is $25,000 per share plus accrued interest to the redemption date.

BlackRock is an investment management firm based in New York.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.