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Two BlackRock municipal term trusts to redeem auction preferred shares
By Tali Rackner
Norfolk, Va., Feb. 7 - BlackRock Advisors, LLC announced that two of its municipal term trusts plan to redeem a portion of their auction preferred shares, according to Rule 23C-2 filings with the Securities and Exchange Commission.
The BlackRock Municipal 2020 Term Trust will redeem 205 shares, or $5,125,000, each on Feb. 27, March 2 and March 4, for a total of $15,375,000.
The BlackRock California Municipal 2018 Term Trust will redeem 525 auction market preferred shares, or $13,125,000 on March 4.
The redemptions will be conducted at a liquidation preference of $25,000 per share.
BlackRock is an investment management firm based in New York.
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