BlackRock Core Bond Trust (BHK) Announces Results of its Over-subscribed Rights Offering

BlackRock Core Bond Trust (NYSE: BHK) (the "Fund") today announced the successful completion of its transferable rights offer (the “Offer”) which expired on June 18, 2025 (the “Expiration Date”). The Offer entitled rights holders to subscribe for up to an aggregate of 18,056,056 shares of the Fund’s common shares of beneficial interest, par value of $0.001 per share (each, a “Common Share”). The final subscription price of $9.22 per Common Share was determined based upon the formula equal to 95% of the average of the last reported sales price per Common Share on the New York Stock Exchange (the "NYSE") on the Expiration Date and each of the four (4) immediately preceding trading days.

As a result of high investor demand, the Offer was over-subscribed, and the Fund will exercise the over-subscription privilege. Pursuant to the over-subscription privilege, shareholders of the Fund as of May 27, 2025 (the “Record Date”) who fully exercised all rights issued to them were able to subscribe at the price indicated above, subject to certain limitations and allotment, for any additional Common Shares which were not subscribed for by other holders of rights. The shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro-rata among those fully exercising Record Date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Fund will return to those investors that submitted over-subscription requests the full amount of their excess payments as soon as practicable.

"We are very pleased with the results of the BHK rights offering. We continue to see resilient fundamentals in the market, attractive yields, and the potential for lower financing costs in the coming quarters, increasing income to our shareholders. We look forward to putting more cash to work and to continue seeking to provide stable monthly income for our shareholders.” – Scott MacLellan, Portfolio Manager for the Fund.

The Offer is expected to result in the issuance of more than 18.0 million Common Shares (including Common Shares subscribed pursuant to the over-subscription privilege and notices of guaranteed delivery), resulting in anticipated proceeds to the Fund of approximately $166 million. The Fund will receive the entire proceeds of the Offer since BlackRock Advisors, LLC, the Fund’s investment adviser, has agreed to pay all expenses related to the Offer. The Fund intends to invest the proceeds of the Offer in accordance with its investment objective and policies.