BlackRock MuniYield California to redeem $139.28 million preferreds

By Toni Weeks

San Diego, April 26 - BlackRock MuniYield California Quality Fund, Inc. will redeem all of its outstanding F7, D28, E7, B7 and C7 auction market preferred stock, according to a filing with the Securities and Exchange Commission.

Each of the 5,571 shares has a liquidation preference of $25,000, and the redemption will total $139,275,000.

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

• 1,090 series F7 preferred shares on May 12;

• 1,211 series D28 preferred shares and 1,211 series E7 preferred shares on May 13;

• 1,090 series B7 preferred shares on May 16; and

• 969 series C7 preferred shares on May 18.

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

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.