Three BlackRock municipals to redeem auction-rate preferred shares

By Tali David

Minneapolis, Oct. 8 - BlackRock Advisors, LLC announced that three of its municipal term trusts plan to redeem a portion of their auction-rate preferred shares, according to multiple Rule 23C-2 filings with the Securities and Exchange Commission.

The redemptions will be conducted at a liquidation preference of $25,000 per share, with accrued dividends, if applicable.

The BlackRock Florida Municipal 2020 Term Trust will redeem 384 shares, or $9.6 million, on Oct. 28.

The BlackRock California Municipal 2018 Term Trust will redeem 124 shares, or $3.1 million, on Oct. 29.

The BlackRock New York Municipal 2018 Term Trust will redeem 136 shares, or $3.4 million, on Oct. 30.

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.