UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM N-Q

QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED

MANAGEMENT INVESTMENT COMPANY

Investment Company Act file number 811-21050

Name of Fund: BlackRock New Jersey Municipal Bond Trust (BLJ)

Fund Address: 100 Bellevue Parkway, Wilmington, DE 19809

Name and address of agent for service: John M. Perlowski, Chief Executive Officer, BlackRock New Jersey Municipal Bond Trust, 55 East 52 nd Street, New York, NY 10055

Registrant’s telephone number, including area code: (800) 882-0052, Option 4

Date of fiscal year end: 08/31/2013

Date of reporting period: 05/31/2013


Item 1       Schedule of Investments


Schedule of Investments May 31, 2013 (Unaudited)    BlackRock New Jersey Municipal Bond Trust (BLJ)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds

   Par
(000)
     Value  

New Jersey – 122.6%

     

Corporate – 11.0%

     

Middlesex County Improvement Authority, RB, Subordinate, Heldrich Center Hotel, Series B,

     

6.25%, 1/01/37(a)(b)

   $ 560       $ 39,200   

New Jersey EDA, RB, Continental Airlines, Inc. Project, AMT,

     

7.00%, 11/15/30(c)

     2,335         2,343,523   

New Jersey EDA, Refunding RB, American Water Co., Inc. Project, AMT:

     

Series A, 5.70%, 10/01/39

     475         521,483   

Series B, 5.60%, 11/01/34

     395         440,927   

Salem County Pollution Control Financing Authority, Refunding RB, Atlantic City Electric, Series A,

     

4.88%, 6/01/29

     750         814,020   
     

 

 

 
        4,159,153   
     

 

 

 

County/City/Special District/School District – 11.5%

     

Bergen County New Jersey Improvement Authority, Refunding RB, Fair Lawn Community Center,

     

5.00%, 9/15/34

     245         281,672   

City of Margate City New Jersey, GO, Refunding, Improvement:

     

5.00%,1/15/27

     230         260,109   

5.00%,1/15/28

     110         123,770   

Essex County Improvement Authority, Refunding RB, Project Consolidation (NPFGC):

     

5.50%,10/01/28

     400         509,660   

5.50%,10/01/29

     790         1,008,048   

Hudson County Improvement Authority, RB, Harrison Parking Facility Project, Series C (AGC),

     

5.38%, 1/01/44

     800         872,488   

Union County Improvement Authority, RB, Guaranteed Lease-Family Court Building Project,

     

5.00%, 5/01/42

     470         519,416   

Union County Utilities Authority, Refunding RB, New Jersey Solid Waste System, County Deficiency Agreement, Series A,

     

5.00%, 6/15/41

     685         762,302   
     

 

 

 
        4,337,465   
     

 

 

 

Education – 22.4%

     

New Jersey EDA, RB, School Facilities Construction:

     

Series CC-2, 5.00%, 12/15/31

     500         556,650   

Series S, 5.00%, 9/01/36

     280         296,696   

New Jersey EDA, Refunding RB, School Facilities, Series GG,

     

5.25%, 9/01/27

     1,345         1,547,463   

New Jersey Educational Facilities Authority, RB, Montclair State University, Series J,

     

5.25%, 7/01/38

     180         197,869   

New Jersey Educational Facilities Authority, Refunding RB:

     

College of New Jersey, Series D (AGM), 5.00%, 7/01/35

     1,010         1,084,598   

Georgian Court University, Series D,

     

5.00%, 7/01/33

     150         156,225   

Kean University, Series A,

     

5.50%, 9/01/36

     700         782,523   

New Jersey Institute of Technology, Series H,

     

5.00%, 7/01/31

     210         230,987   

Ramapo College, Series B,

     

5.00%, 7/01/42

     85         93,319   

University of Medicine & Dentistry, Series B,

     

7.50%, 12/01/32

     450         549,378   

New Jersey Higher Education Student Assistance Authority, RB, Student Loan, Series 1A, AMT,

     

5.00%, 12/01/22

     915         1,021,058   

New Jersey Higher Education Student Assistance Authority, Refunding RB:

     

Series 1, AMT, 5.75%, 12/01/29

     640         715,635   

Series 1A, 5.00%, 12/01/25

     165         179,111   

Series 1A, 5.00%, 12/01/26

     125         135,005   

Series 1A, 5.13%, 12/01/27

     295         321,432   

Series 1A, 5.25%, 12/01/32

     300         325,566   

New Jersey Institute of Technology, RB, Series A,

     

5.00%, 7/01/42

     250         276,700   
     

 

 

 
        8,470,215   
     

 

 

 

 

    BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST    MAY 31, 2013   1


Schedule of Investments (continued)    BlackRock New Jersey Municipal Bond Trust (BLJ)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds

   Par
(000)
     Value  

New Jersey (continued)

     

Health – 14.6%

     

New Jersey EDA, RB, First Mortgage, Lions Gate Project, Series A:

     

5.75%, 1/01/25

   $ 150       $ 151,651   

5.88%, 1/01/37

     265         266,532   

New Jersey EDA, Refunding RB:

     

First Mortgage Winchester, Series A, 5.80%, 11/01/31

     1,000         1,016,700   

Seabrook Village, Inc. Facility, 5.25%, 11/15/26

     470         488,006   

New Jersey Health Care Facilities Financing Authority, RB (AGC):

     

Meridian Health, Series I, 5.00%, 7/01/38

     245         258,235   

Virtua Health, 5.50%, 7/01/38

     400         433,000   

New Jersey Health Care Facilities Financing Authority, Refunding RB:

     

AHS Hospital Corp., 6.00%, 7/01/41

     610         735,611   

Meridan Health System Obligation, 5.00%, 7/01/26

     305         344,382   

South Jersey Hospital, 5.00%, 7/01/46

     500         513,330   

St. Barnabas Health, Series A, 5.00%, 7/01/25

     45         50,773   

St. Barnabas Health, Series A, 5.00%, 7/01/29

     500         519,910   

St. Barnabas Health, Series A, 5.63%, 7/01/32

     180         200,552   

St. Barnabas Health, Series A, 5.63%, 7/01/37

     505         558,979   
     

 

 

 
     5,537,661   
     

 

 

 

Housing – 5.5%

     

New Jersey State Housing & Mortgage Finance Agency, RB:

     

M/F Housing, Series A, 4.55%, 11/01/43

     485         496,223   

S/F Housing, Series CC, 5.00%, 10/01/34

     355         379,381   

Series A, 4.75%, 11/01/29

     370         394,394   

Series AA, 6.38%, 10/01/28

     590         639,672   

New Jersey State Housing & Mortgage Finance Agency, RB (concluded):

     

Series AA, 6.50%, 10/01/38

     185         191,538   
     

 

 

 
     2,101,208   
     

 

 

 

State – 37.3%

     

Garden State Preservation Trust, RB, CAB, Series B (AGM),

     

3.28%, 11/01/27(d)

     4,000         2,502,440   

New Jersey EDA, RB:

     

Motor Vehicle Surcharge, Series A (NPFGC), 5.25%, 7/01/25

     500         601,485   

School Facilities Construction, Series KK, 5.00%, 3/01/38

     245         270,147   

School Facilities Construction, Series Z (AGC), 5.50%, 12/15/34

     1,000         1,151,040   

New Jersey EDA, Refunding RB:

     

(AGM), 5.00%, 6/15/22

     1,000         1,162,000   

Cigarette Tax, 5.00%, 6/15/28

     255         279,857   

Cigarette Tax, 5.00%, 6/15/29

     500         545,930   

Kapkowski Road Landfill Project, 6.50%, 4/01/28

     2,250         2,661,637   

School Facilities Construction, Series AA, 5.50%, 12/15/29

     500         567,680   

School Facilities Construction, Series GG, 5.25%, 9/01/26

     1,000         1,156,510   

New Jersey Health Care Facilities Financing Authority, RB, Hospital Asset Transformation Program, Series A,

     

5.25%, 10/01/38

     500         537,425   

New Jersey Transportation Trust Fund Authority, RB, Transportation System, Series A:

     

6.00%, 6/15/35

     1,275         1,518,296   

5.00%, 6/15/42

     250         269,000   

State of New Jersey, COP, Equipment Lease Purchase, Series A:

     

5.25%, 6/15/27

     600         666,384   

5.25%, 6/15/28

     200         221,308   
     

 

 

 
     14,111,139   
     

 

 

 

 

2   BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST    MAY 31, 2013    


Schedule of Investments (continued)    BlackRock New Jersey Municipal Bond Trust (BLJ)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds

   Par
(000)
     Value  

New Jersey (concluded)

     

Transportation – 19.6%

     

Delaware River Port Authority Pennsylvania & New Jersey, RB, Series D,

     

5.00%, 1/01/40

   $ 250       $ 272,333   

New Jersey State Turnpike Authority, RB, Series E,

     

5.25%, 1/01/40

     370         405,516   

New Jersey State Turnpike Authority, Refunding RB, Series B,

     

5.00%, 1/01/30

     445         501,253   

New Jersey Transportation Trust Fund Authority, RB, Transportation System:

     

6.00%, 12/15/38

     325         384,270   

CAB, Series C (AGM), 4.62%, 12/15/32(d)

     1,250         512,075   

Series A, 5.88%, 12/15/38

     555         650,760   

Series A, 5.50%, 6/15/41

     830         944,523   

Series A (AGC), 5.63%, 12/15/28

     200         235,788   

Series B, 5.00%, 6/15/42

     1,000         1,077,410   

Port Authority of New York & New Jersey, RB, JFK International Air Terminal,

     

6.00%, 12/01/42

     450         522,585   

Port Authority of New York & New Jersey, Refunding RB, Consolidated AMT:

     

152nd Series, 5.75%, 11/01/30

     525         604,086   

172nd Series, 5.00%, 10/01/34

     1,000         1,096,360   

South Jersey Transportation Authority, Refunding RB, Series A:

     

5.00%, 11/01/28

     100         112,712   

5.00%, 11/01/29

     100         112,369   
     

 

 

 
        7,432,040   
     

 

 

 

Utility – 0.7%

     

Rahway Valley Sewerage Authority, RB, CAB, Series A (NPFGC),

     

4.41%, 9/01/33(d)

     650         268,717   
     

 

 

 

Total Municipal Bonds in New Jersey

        46,417,598   
     

 

 

 

Multi-State – 5.7%

     

Housing – 5.7%

     

Centerline Equity Issuer Trust,

     

7.20%, 11/15/14(e)(f)

     2,000         2,155,300   
     

 

 

 

Puerto Rico – 5.8%

     

State – 5.8%

     

Puerto Rico Sales Tax Financing Corp., RB, First Sub-Series A:

     

5.75%, 8/01/37

     970         1,045,417   

6.00%, 8/01/42

     500         551,270   

Puerto Rico Sales Tax Financing Corp., Refunding RB, First Sub-Series C,

     

6.00%, 8/01/39

     540         599,584   
     

 

 

 

Total Municipal Bonds in Puerto Rico

        2,196,271   
     

 

 

 

Total Municipal Bonds 134.1%

        50,769,169   
     

 

 

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts(g)

     

New Jersey – 28.8%

     

County/City/Special District/School District – 5.1%

     

Union County Utilities Authority, Refunding LRB, Covanta Union, Series A, AMT,

     

5.25%, 12/01/31

     1,780         1,943,012   
     

 

 

 

Education – 6.1%

     

New Jersey EDA, RB, School Facilities Construction (AGC),

     

6.00%, 12/15/18(h)

     1,000         1,181,240   

Rutgers State University of New Jersey, Refunding RB, Series F,

     

5.00%, 5/01/39

     990         1,110,391   
     

 

 

 
        2,291,631   
     

 

 

 

State – 2.6%

     

New Jersey EDA, Refunding RB, School Facilities Construction, Series NN,

     

5.00%, 3/01/29(i)

     869         976,339   
     

 

 

 

Transportation – 15.0%

     

New Jersey State Turnpike Authority, RB, Series A,

     

5.00%, 1/01/38(i)

     1,480         1,604,646   

New Jersey Transportation Trust Fund Authority, RB, Transportation System:

     

Series A (AGM), 5.00%, 12/15/32

     600         669,330   

Series B, 5.25%, 6/15/36(i)

     1,000         1,114,270   

Port Authority of New York & New Jersey, RB, Consolidated, 169th Series, AMT,

     

5.00%, 10/15/41

     1,500         1,621,755   

 

    BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST    MAY 31, 2013   3


Schedule of Investments (continued)    BlackRock New Jersey Municipal Bond Trust (BLJ)
   (Percentages shown are based on Net Assets)

 

Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts(g)

   Par
(000)
     Value  

New Jersey (concluded)

     

Transportation (concluded)

     

Port Authority of New York & New Jersey, Refunding RB, Consolidated, 152nd Series, AMT,

     

5.25%, 11/01/35

   $ 630       $ 679,149   
     

 

 

 
        5,689,150   
     

 

 

 

Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts in New Jersey

        10,900,132   
     

 

 

 

Puerto Rico – 1.0%

     

State – 1.0%

     

Puerto Rico Sales Tax Financing Corp., Refunding RB, Series C,

     

5.25%, 8/01/40

     370         396,342   
     

 

 

 

Total Municipal Bonds Transferred to Tender Option Bond (TOB) Trusts 29.8%

        11,296,474   
     

 

 

 

Total Long-Term Investments
(Cost – $57,666,165) – 163.9%

        62,065,643   
     

 

 

 

Short-Term Securities

   Shares         

BIF New Jersey Municipal Money Fund,

     

0.00%(j)(k)

     427,907         427,907   
     

 

 

 

Total Short-Term Securities
(Cost – $427,907) – 1.1%

        427,907   
     

 

 

 

Total Investments (Cost – $58,094,072*) – 165.0%

        62,493,550   

Other Assets Less Liabilities 1.3%

        476,118   

Liability for TOB Trust Certificates, Including Interest Expense and Fees Payable – ( 16.9%)

        (6,397,350

VRDP Shares, at Liquidation Value (49.4%)

        (18,700,000
     

 

 

 

Net Assets Applicable to Common Shares 100.0%

      $ 37,872,318   
     

 

 

 

 

* As of May 31, 2013, gross unrealized appreciation and gross unrealized depreciation based on cost for federal income tax purposes were as follows:

 

Tax cost

   $ 51,717,281   
  

 

 

 

Gross unrealized appreciation

   $ 4,989,336   

Gross unrealized depreciation

     (606,797
  

 

 

 

Net unrealized appreciation

   $ 4,382,539   
  

 

 

 

Notes to Schedule of Investments

 

(a) Issuer filed for bankruptcy and/or is in default of principal and/or interest payments.

 

(b) Non-income producing security.

 

(c) Variable rate security. Rate shown is as of report date.

 

(d) Represents a zero-coupon bond. Rate shown reflects the current yield as of report date.

 

(e) Security represents a beneficial interest in a trust. The collateral deposited into the trust is federally tax-exempt revenue bonds issued by various state or local governments, or their respective agencies or authorities. The security is subject to remarketing prior to its stated maturity.

 

(f) Security exempt from registration pursuant to Rule 144A under the Securities Act of 1933, as amended. These securities may be resold in transactions exempt from registration to qualified institutional investors.

 

(g) Securities represent bonds transferred to a TOB in exchange for which the Trust acquired residual interest certificates. These securities serve as collateral in a financing transaction.

 

(h) US government securities, held in escrow, are used to pay interest on this security, as well as to retire the bond in full at the date indicated, typically at a premium to par.

 

(i) All or a portion of security is subject to a recourse agreement, which may require the Trust to pay the liquidity provider in the event there is a shortfall between the TOB trust certificates and proceeds received from the sale of the security contributed to the TOB trust. In the case of a shortfall, the aggregate maximum potential amount the Trust could ultimately be required to pay under the agreements, which expire from June 15, 2019 to September 1, 2020, is $2,526,789.

 

(j) Investments in issuers considered to be an affiliate of the Trust during the period ended May 31, 2013, for purposes of Section 2(a)(3) of the 1940 Act, were as follows:

 

4   BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST    MAY 31, 2013    


Schedule of Investments (continued)    BlackRock New Jersey Municipal Bond Trust (BLJ)
  

 

Affiliate

   Shares
Held at
August 31, 2012
     Net
Activity
    Shares
Held at
May 31, 2013
     Income  

BIF New Jersey Municipal Money Fund

     891,865         (463,958     427,907           

 

(k) Represents the current yield as of report date.

Portfolio Abbreviations

To simplify the listings of portfolio holdings in the Schedule of Investments, the names and descriptions of many of the securities have been abbreviated according to the following list:

 

AGC Assured Guarantee Corp.
AGM Assured Guaranty Municipal Corp.
AMT Alternative Minimum Tax (subject to)
CAB Capital Appreciation Bonds
COP Certificates of Participation
EDA Economic Development Authority
GO General Obligation Bonds
LRB Lease Revenue Bonds
M/F Multi-Family
NPFGC National Public Finance Guarantee Corp.
RB Revenue Bonds
S/F Single-Family

 

Financial futures contracts as of May 31, 2013 were as follows:

 

Contracts Sold

  

Issue

  

Exchange

  

Expiration

   Notional
Value
     Unrealized
Appreciation
 

(36)

   10-Year US Treasury Note    Chicago Board of Trade    September 2013    $ 4,651,875       $ 36,429   

 

For Trust compliance purposes, the Trust’s sector classifications refer to any one or more of the sector sub-classifications used by one or more widely recognized market indexes or rating group indexes, and/or as defined by Trust management. These definitions may not apply for purposes of this report, which may combine such sector sub-classifications for reporting ease.

 

    BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST    MAY 31, 2013   5


Schedule of Investments (continued)    BlackRock New Jersey Municipal Bond Trust (BLJ)
  

 

 

Fair Value Measurements – Various inputs are used in determining the fair value of investments and derivative financial instruments. These inputs to valuation techniques are categorized into a disclosure hierarchy consisting of three broad levels for financial reporting purposes as follows:

 

   

Level 1 – unadjusted price quotations in active markets/exchanges for identical assets or liabilities that the Trust has the ability to access

 

   

Level 2 – other observable inputs (including, but not limited to, quoted prices for similar assets or liabilities in markets that are active, quoted prices for identical or similar assets or liabilities in markets that are not active, inputs other than quoted prices that are observable for the assets or liabilities (such as interest rates, yield curves, volatilities, prepayment speeds, loss severities, credit risks and default rates) or other market-corroborated inputs)

 

   

Level 3 – unobservable inputs based on the best information available in the circumstances, to the extent observable inputs are not available (including the Trust’s own assumptions used in determining the fair value of investments and derivative financial instruments)

The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 measurements) and the lowest priority to unobservable inputs (Level 3 measurements). Accordingly, the degree of judgment exercised in determining fair value is greatest for instruments categorized in Level 3. The inputs used to measure fair value may fall into different levels of the fair value hierarchy. In such cases, for disclosure purposes, the fair value hierarchy classification is determined based on the lowest level input that is significant to the fair value measurement in its entirety.

Changes in valuation techniques may result in transfers into or out of an assigned level within the disclosure hierarchy. In accordance with the Trust’s policy, transfers between different levels of the fair value disclosure hierarchy are deemed to have occurred as of the beginning of the reporting period. The categorization of a value determined for investments and derivative financial instruments is based on the pricing transparency of the investment and derivative financial instrument and is not necessarily an indication of the risks associated with investing in those securities. For information about the Trust’s policy regarding valuation of investments and derivative financial instruments, please refer to the Trust’s most recent financial statements as contained in its semi-annual report.

The following tables summarize the Trust’s investments and derivative financial instruments categorized in the disclosure hierarchy as of May 31, 2013:

 

       Level 1      Level 2      Level 3      Total  

Assets:

           

Investments:

           

Long-Term Investments 1

           $ 62,065,643               $ 62,065,643   

Short-Term Securities

   $ 427,907                         427,907   
  

 

 

    

 

 

    

 

 

    

 

 

 

Total

   $ 427,907       $ 62,065,643               $ 62,493,550   
  

 

 

    

 

 

    

 

 

    

 

 

 

 

1  

See above Schedule of Investments for values in each sector.

 

                                                                                   
     Level 1      Level 2      Level 3      Total  

Derivative Financial Instruments 2

           

Assets:

           

Interest rate contracts

   $ 36,429                       $ 36,429   

 

2  

Derivative financial instruments are financial futures contracts, which are valued at the unrealized appreciation/depreciation on the instrument.

 

6   BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST    MAY 31, 2013    


Schedule of Investments (concluded)    BlackRock New Jersey Municipal Bond Trust (BLJ)
  

 

Certain of the Trust’s assets and liabilities are held at carrying amount, which approximates fair value for financial reporting purposes. As of May 31, 2013, such assets and liabilities are categorized within the disclosure hierarchy as follows:

 

     Level 1      Level 2     Level 3      Total  

Assets:

          

Cash pledged for financial futures contracts

   $ 48,000                      $ 48,000   

Liabilities:

          

TOB trust certificates

           $ (6,393,730             (6,393,730

VRDP shares

             (18,700,000             (18,700,000
  

 

 

    

 

 

   

 

 

    

 

 

 

Total

   $ 48,000       $ (25,093,730           $ (25,045,730
  

 

 

    

 

 

   

 

 

    

 

 

 

There were no transfers between levels during the period ended May 31, 2013.

 

    BLACKROCK NEW JERSEY MUNICIPAL BOND TRUST    MAY 31, 2013   7


Item 2       Controls and Procedures
2(a)       The registrant’s principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant’s disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the “1940 Act”)) are effective as of a date within 90 days of the filing of this report based on the evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act and Rule 13a-15(b) under the Securities Exchange Act of 1934, as amended.
2(b)       There were no changes in the registrant’s internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act) that occurred during the registrant’s last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant’s internal control over financial reporting.
Item 3       Exhibits

Certifications – Attached hereto


Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

BlackRock New Jersey Municipal Bond Trust    
By:    /s/ John M. Perlowski  
  John M. Perlowski  
  Chief Executive Officer (principal executive officer) of
  BlackRock New Jersey Municipal Bond Trust  

Date: July 25, 2013

Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated.

 

By:   

/s/ John M. Perlowski

   
  John M. Perlowski  
  Chief Executive Officer (principal executive officer) of
  BlackRock New Jersey Municipal Bond Trust  

Date: July 25, 2013

 

By:   

/s/ Neal J. Andrews

   
  Neal J. Andrews  
  Chief Financial Officer (principal financial officer) of
  BlackRock New Jersey Municipal Bond Trust  

Date: July 25, 2013

Blackrock New Jersey Municipal Bond Trust (delisted) (AMEX:BLJ)
Gráfica de Acción Histórica
De May 2024 a Jun 2024 Haga Click aquí para más Gráficas Blackrock New Jersey Municipal Bond Trust (delisted).
Blackrock New Jersey Municipal Bond Trust (delisted) (AMEX:BLJ)
Gráfica de Acción Histórica
De Jun 2023 a Jun 2024 Haga Click aquí para más Gráficas Blackrock New Jersey Municipal Bond Trust (delisted).