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BlackRock municipal trusts call $17.45 million auction preferreds
By Toni Weeks
San Diego, Jan. 8 - BlackRock Advisors said it will redeem $17.45 million of its auction preferred shares, according to Rule 23C-2 filings with the Securities and Exchange Commission.
Each share will be redeemed at the liquidation preference of $25,000 per share.
The BlackRock Municipal 2020 Term Trust will redeem 26 shares, or $650,000, of each of its F-7, M-7 and W-7 shares. The redemption dates are Jan. 28 for the F-7 shares, Jan. 29 for the M-7 shares and Jan. 31 for the W-7 shares.
In addition, the BlackRock Florida Municipal 2020 Term Trust will redeem 540 shares, or $13.5 million, of its F-7 shares on Jan. 28.
Finally, the BlackRock Municipal 2018 Term Trust will redeem 40 shares, or $1 million, of W-7 shares on Jan. 31 and the same amount of R-7 shares on Feb. 1.
BlackRock is an investment management firm based in New York.
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