BlackRock MuniYield New York to redeem $247.7 million preferreds

By Toni Weeks

San Diego, April 26 - BlackRock MuniYield New York Quality Fund, Inc. will redeem all of its outstanding B7, F7, C7, D7, E28 and A28 auction market preferred stock, according to a filing with the Securities and Exchange Commission.

Each of the 9,908 shares has a liquidation preference of $25,000, and the redemption will total $247.7 million.

The redemption will be completed over six days, according to the following schedule:

• 1,385 series B7 preferred shares on May 10;

• 1,466 series F7 preferred shares on May 13;

• 2,282 series C7 preferred shares on May 16;

• 1,597 series D7 preferred shares on May 18;

• 1,793 series E28 preferred shares on May 19; and

• 1,385 series A28 preferred shares on May 24.

BlackRock is an investment management firm based in New York City.

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