BlackRock Municipal 2020 calls $6 million of auction preferreds

By Wendy Van Sickle

Columbus, Ohio, Dec. 15 – BlackRock Municipal 2020 Term Trust plans to redeem $6 million of its auction preferred shares, according to a filing with the Securities and Exchange Commission.

The trust will redeem 80 shares each of the following preferreds at a liquidation preference of $25,000 per share:

• $2 million of its series F-7 preferreds on Jan. 9;

• $2 million of its series M-7 preferreds on Jan. 10; and

• $2 million of its series W-7 preferreds on Jan. 5.

As previously reported, the trust redeemed 94 shares each of the F-7 and W-7 preferreds in October, 94 shares of the M-7 preferreds in November, 150 shares each last January and 38 shares each in August 2015.

The closed-end investment company is based in Wilmington, Del.

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