BlackRock funds to redeem $72.53 million auction-market preferreds

By Toni Weeks

San Diego, May 24 - BlackRock MuniEnhanced Fund, Inc. and BlackRock MuniYield Quality Fund III, Inc. will redeem outstanding auction-market preferred stock in June, according to a press release.

Each of the 2,901 shares to be redeemed has a liquidation preference of $25,000, and the redemption will total $72,525,000.

BlackRock MuniEnhanced will redeem 1,525 shares of its series B28 shares for $38,125,000 on June 21.

BlackRock MuniYield Quality will redeem 1,376 shares of its series A28 shares for $34.4 million on June 23.

The redemptions are in connection with the issuance of variable-rate demand preferred shares.

BlackRock is an investment management firm based in New York City.

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