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Three BlackRock municipals to redeem auction-rate preferred shares
By Tali David
Minneapolis, Dec. 27 - BlackRock Advisors, LLC announced that three of its municipal term trusts plan to redeem a portion of their auction-rate preferred shares, according to Rule 23C-2 filings with the Securities and Exchange Commission.
The redemptions will be conducted at a liquidation preference of $25,000 per share.
The BlackRock California Municipal 2018 Term Trust will redeem 350 shares, or $8.75 million, on Jan. 21.
The BlackRock Municipal 2018 Term Trust will redeem 155 shares, or $3,875,000 on Jan. 16, and another 155 shares, or $3,875,000 on Jan. 17.
The BlackRock Municipal 2020 Term Trust will redeem 114 shares, or $2.85 million, on Jan. 16, and 228 million shares, or $5.7 million, on Jan. 21.
BlackRock is an investment management firm based in New York.
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