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.
Aggregate Principal Amount
|F-7||09249X406||December 4, 2017||56||$1,400,000|
|M-7||09249X208||November 28, 2017||56||$1,400,000|
|W-7||09249X307||November 30, 2017||56||$1,400,000|
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