BlackRock 2037 Municipal Target Term Trust (BMN) Announces Variable Rate Preferred Share Issuance
BlackRock 2037 Municipal Target Term Trust Common Shares of Beneficial Interest (BMN)
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC (“BlackRock”) announced today that BlackRock 2037 Municipal Target Term Trust (NYSE: BMN; CUSIP: 09262G108) (the “Fund”) successfully priced and placed $50 million of Variable Rate Demand Preferred Shares (“VRDP”) pursuant to an offering exempt from registration under the Securities Act of 1933. The proceeds from the VRDP issuance will be used to increase leverage in the Fund. BlackRock believes that the VRDP issuance will be accretive to the Fund’s earnings, consistent with the Fund’s investment objectives to provide current income that is exempt from regular federal income tax (but which may be subject to the federal alternative minimum tax in certain circumstances) and to return $25.00 per common share (the initial public offering price per common share) to holders of common shares on or about September 30, 2037.Details below:VRDP DetailsTickerVRDP CUSIP BlackRock 2037 Municipal Target Term Trust BMN09262G207This press release
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Sec Filings
- 11/26/25 - Form NPORT-P
- 11/20/25 - Form 4
- 11/18/25 - Form 4
- BMN's page on the SEC website