BlackRock Municipal 2027 trust to sell shares for investment purposes

By Susanna Moon

Chicago, Aug. 30 - BlackRock Municipal 2027 Term Trust registered in an N-2 filing with the Securities and Exchange Commission to sell up to $1 million of common shares for investment purposes.

The fund will sell the shares at $15.00 each.

The trust will invest at least 80% of its managed assets in municipal securities that are investment-grade quality at the time of investment.

After the initial investment period, the trust intends to actively manage the maturity of its securities, which are expected to have a dollar-weighted average effective maturity approximately equal to the trust's maturity date.

As a result, the maturity of the trust's portfolio is expected to shorten over time in relation to the remaining term of the trust.

There is no assurance that the trust will achieve its investment objectives, the filing noted.

The trust intends to use leverage to seek to achieve its investment objectives but did not include specific targets in the filing.

BlackRock Advisors, LLC is the investment adviser for the Wilmington, Del., trust. The sub-adviser is BlackRock Financial Management, Inc.

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