BlackRock Municipal 2020 Term Trust Announces Full Redemption of Auction Rate Preferred Shares
BLACKROCK MUNI 2020 COMMON (BKK)
US:NYSE Investor Relations:
blackrock.com/investing/products/240230/blackrock-municipal-2020-term-trust-usd-fund
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)-- BlackRock Advisors, LLC today announced that BlackRock Municipal 2020 Term Trust (NYSE:BKK) provided a notice of the redemption of all of its issued and outstanding auction rate preferred shares (“ARPS”). The redemptions announced today, which total $4.2 million in ARPS and represent 100% of BKK’s ARPS currently outstanding, will be conducted at a liquidation preference of $25,000 per share, together with accrued and unpaid dividends thereon to the redemption date, if applicable. When taken together with previously announced redemptions of ARPS by BlackRock closed-end funds, these redemptions total approximately $9.93 billion across BlackRock taxable and tax-exempt closed-end funds (100% of the total ARPS outstanding as of February 2008). Please see redemption details for the Fund’s respective series of ARPS below. BKK:
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