Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for BlackRock New Jersey Municipal Bond Trust > News item |
BlackRock funds plan privately issued preferred share placements
By Tali David
Minneapolis, May 17 - BlackRock Advisors, LLC announced that five of its tax-exempt closed-end funds plan to place privately issued preferred shares.
The closing of the shares is expected to be in May or June, according to a press release.
The funds are the BlackRock Virginia Municipal Bond Trust, the BlackRock New Jersey Municipal Bond Trust, the BlackRock Pennsylvania Strategic Municipal Trust, the BlackRock Maryland Municipal Bond Trust and the Massachusetts Health & Education Tax-Exempt Trust.
Proceeds of the placements, together with cash, will fund the redemptions of the funds' $81.28 million of auction-rate preferreds.
BlackRock is an investment management firm based in New York.
© 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.