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Prospect News home > News index > List of issuers T > Headlines for Tenders 2011 > News item
Published on 5/31/2011 in the Prospect News Liability Management Daily, Prospect News Municipals Daily and Prospect News Preferred Stock Daily.

BlackRock funds to redeem $46.5 million auction-rate preferred shares

By Melissa Kory

Cleveland, May 31 - BlackRock Advisors, LLC announced it will redeem $12.1 million, or 484, of its BlackRock MuniYield California Fund, Inc. series C28 auction-rate preferred shares and $34.4 million, or 1,376, of its BlackRock MuniYield Quality Fund III, Inc. series B28 auction-rate preferreds.

The preferreds will be redeemed on June 30 at the liquidation preference of $25,000 per share plus accrued dividends to the redemption date.

The redemption is in connection with the issuance of variable-rate demand preferred shares by the funds announced on May 17.

BlackRock is a New York-based investment management firm.


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