BlackRock Announces Closing of Reorganizations of Three Municipal Closed-End Funds
BlackRock Advisors, LLC today announced that the reorganizations of each of BlackRock New York Municipal Income Quality Trust (“BSE”, CUSIP: 09249U105) and BlackRock New York Municipal Income Trust II (“BFY”, CUSIP: 09249R102), with and into BlackRock New York Municipal Income Trust (“BNY”, CUSIP: 09248L106 and together with BSE and BFY, the “Funds”) (the “Reorganizations”) is effective as of the opening for business of the New York Stock Exchange on Monday, April 12, 2021.
In the Reorganizations, common shareholders of BSE and BFY received an amount of BNY common shares equal to the aggregate net asset value of their holdings of BSE and BFY common shares as determined at the close of business on April 9, 2021. Fractional shares of BNY common shares were not issued in the Reorganizations and consequently cash will be distributed for any such fractional shares.
Relevant details pertaining to the Reorganizations are as follows:
Fund |
Ticker |
Net Asset Value/Share ($) |
Share Conversion Ratio |
BlackRock New York Municipal Income Trust |
BNY |
15.0212 |
N/A |
BlackRock New York Municipal Income Quality Trust |
BSE |
14.9056 |
0.99230421 |
BlackRock New York Municipal Income Trust II |
BFY |
15.4738 |
1.03013075 |
In addition, BSE and BFY preferred shareholders received on a one-for-one basis BNY preferred shares in an amount equal to the aggregate preferred share liquidation preference held by BSE and BFY preferred shareholders immediately prior to the Reorganizations.
Lesen Sie auch
This communication is not intended to, and shall not, constitute an offer to purchase or sell shares of any of the BlackRock funds, including BNY, the surviving fund in the Reorganization. Investors should consider BNY’s investment objective, risks, charges and expenses carefully and consider in its entirety the Joint Proxy Statement/Prospectus relating to the Reorganizations, which contains important information regarding the investment objectives and policies, risks, charges, expenses and other important information about BNY.