BlackRock Municipal 2018 Term Trust Announces Partial Redemption of Auction Rate Preferred Shares
02 Diciembre 2014 - 3:30PM
Business Wire
BlackRock Advisors, LLC today announced that BlackRock Municipal
2018 Term Trust (NYSE:BPK) provided a notice of the redemption of a
portion of its issued and outstanding auction rate preferred shares
(“ARPS”).
The redemption announced today, which totals $27.5 million in
ARPS, will be conducted at a liquidation preference of $25,000 per
share, together with accrued and unpaid dividends thereon to the
redemption date, if applicable. When taken together with previously
announced redemptions of ARPS by BlackRock closed-end funds, these
redemptions total approximately $9.73 billion across BlackRock
taxable and tax-exempt closed-end funds (approximately 99.0% of the
total ARPS outstanding as of February 2008).
With respect to the partial redemption announced today, the
Depository Trust Company (DTC), the holder of record for the ARPS,
determines by random lottery how the partial redemption will be
allocated among each participant broker-dealer account that holds
ARPS and each participant broker-dealer determines how to allocate
the partial redemption among its respective ARPS holders.
Please see redemption details below.
BPK:
Series CUSIP
Redemption Date
Total Sharesto
beRedeemed
Aggregate PrincipalAmount to
beRedeemed
R-7 09248C304 December 26, 2014
550 $13,750,000 W-7 09248C205
December 26, 2014 550
$13,750,000
(Represents 54.7% of BPK’s ARPS currently
outstanding)
About BlackRock
BlackRock is a leader in investment management, risk management
and advisory services for institutional and retail clients
worldwide. At September 30, 2014, BlackRock’s AUM was $4.525
trillion. BlackRock helps clients meet their goals and overcome
challenges with a range of products that include separate accounts,
mutual funds, iShares® (exchange-traded funds), and other pooled
investment vehicles. BlackRock also offers risk management,
advisory and enterprise investment system services to a broad base
of institutional investors through BlackRock Solutions®.
Headquartered in New York City, as of September 30, 2014, the firm
had approximately 12,100 employees in more than 30 countries and a
major presence in key global markets, including North and South
America, Europe, Asia, Australia and the Middle East and Africa.
For additional information, please visit the Company’s website at
www.blackrock.com | Twitter: @blackrock_news | Blog:
www.blackrockblog.com | LinkedIn:
www.linkedin.com/company/blackrock
Forward-Looking Statements
This press release, and other statements that BlackRock or the
Fund may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Fund or BlackRock’s future financial or business
performance, strategies or expectations. Forward-looking statements
are typically identified by words or phrases such as “trend,”
“potential,” “opportunity,” “pipeline,” “believe,” “comfortable,”
“expect,” “anticipate,” “current,” “intention,” “estimate,”
“position,” “assume,” “outlook,” “continue,” “remain,” “maintain,”
“sustain,” “seek,” “achieve,” and similar expressions, or future or
conditional verbs such as “will,” “would,” “should,” “could,” “may”
or similar expressions.
BlackRock cautions that forward-looking statements are subject
to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are
made, and BlackRock assumes no duty to and does not undertake to
update forward-looking statements. Actual results could differ
materially from those anticipated in forward-looking statements and
future results could differ materially from historical
performance.
With respect to the Fund, the following factors, among others,
could cause actual events to differ materially from forward-looking
statements or historical performance: (1) changes and volatility in
political, economic or industry conditions, the interest rate
environment, foreign exchange rates or financial and capital
markets, which could result in changes in demand for the Fund or in
the Fund’s net asset value; (2) the relative and absolute
investment performance of the Fund and its investments; (3) the
impact of increased competition; (4) the unfavorable resolution of
any legal proceedings; (5) the extent and timing of any
distributions or share repurchases; (6) the impact, extent and
timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall
Street Reform and Consumer Protection Act, and regulatory,
supervisory or enforcement actions of government agencies relating
to the Fund or BlackRock, as applicable; (8) terrorist activities,
international hostilities and natural disasters, which may
adversely affect the general economy, domestic and local financial
and capital markets, specific industries or BlackRock; (9)
BlackRock’s ability to attract and retain highly talented
professionals; (10) the impact of BlackRock electing to provide
support to its products from time to time; and (11) the impact of
problems at other financial institutions or the failure or negative
performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of
the Fund with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's website at www.sec.gov and on
BlackRock’s website at www.blackrock.com, and may discuss
these or other factors that affect the Fund. The information
contained on BlackRock’s website is not a part of this press
release.
BlackRock Closed-End Funds1-800-882-0052
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