This Day On The Street
Continue to site right-arrow
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
TheStreet Open House

BlackRock Announces Redemption Of Certain Auction Rate Preferred Shares Issued By BlackRock Closed-End Funds

Stocks in this article: BFZ BNJ BNY MUC

BlackRock Advisors, LLC today announced the redemption details for auction rate preferred shares (“ARPS”) issued by four BlackRock tax-exempt closed-end funds (the “Funds”). These redemptions, which are being made at the liquidation preference of $25,000 per share, together with accrued and unpaid dividends to the redemption date, if any, are being announced in connection with the issuance of Variable Rate Muni Term Preferred Shares (“VMTP”) by the Funds, as announced on March 22, 2012.

Please see redemption details below.

BlackRock California Municipal Income Trust (NYSE:BFZ)

                  Shares to be       Amount to be
Series       CUSIP       Redemption Date       Redeemed       Redeemed
T-7       09248E201       April 18, 2012       2,351       $58,775,000
R-7       09248E300       April 13, 2012       2,351       $58,775,000
F-7       09248E409       April 16, 2012       2,151       $53,775,000

BlackRock New Jersey Municipal Income Trust (NYSE: BNJ)

                  Shares to be       Amount to be
Series       CUSIP       Redemption Date       Redeemed       Redeemed
R-7       09248J200       April 13, 2012       2,364       $59,100,000

BlackRock New York Municipal Income Trust (NYSE: BNY)

                  Shares to be       Amount to be
Series       CUSIP       Redemption Date       Redeemed       Redeemed
W-7       09248L205       April 12, 2012       1,890       $47,250,000
F-7       09248L304       April 16, 2012       1,890       $47,250,000

BlackRock MuniHoldings California Quality Fund, Inc. (NYSE: MUC)

                  Shares to be       Amount to be
Series       CUSIP       Redemption Date       Redeemed       Redeemed
A-7       09254L206       April 17, 2012       1,251       $31,275,000
B-7       09254L305       April 16, 2012       2,527       $63,175,000

C-7

      09254L404       April 13, 2012       2,084       $52,100,000
D-7       09254L503       April 12, 2012       1,928       $48,200,000
E-7       09254L602       April 18, 2012       2,370       $59,250,000

BlackRock will continue to keep market participants and shareholders informed of its closed-end funds’ progress to redeem ARPS via press releases and on BlackRock’s website at www.blackrock.com.

About BlackRock

BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At December 31, 2011, BlackRock’s AUM was $3.513 trillion. BlackRock offers products that span the risk spectrum to meet clients’ needs, including active, enhanced and index strategies across markets and asset classes. Products are offered in a variety of structures including separate accounts, mutual funds, iShares ® (exchange-traded funds), and other pooled investment vehicles. BlackRock also offers risk management, advisory and enterprise investment system services to a broad base of institutional investors through BlackRock Solutions ®. Headquartered in New York City, as of December 31, 2011, the firm has approximately 10,100 employees in 27 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa. For additional information, please visit BlackRock's website at www.blackrock.com.

Forward-Looking Statements

This press release, and other statements that BlackRock or the Funds may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Funds’ or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Jim Cramer and Stephanie Link reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

Jim Cramer's protégé, David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
Try it NOW
Try it NOW
Try it NOW

Check Out Our Best Services for Investors

Dividend Stock Advisor

Jim Cramer's protégé, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
Try it NOW
Try it NOW
Try it NOW
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
Submit an article to us!

Markets

DOW 17,416.85 +225.48 1.31%
S&P 500 2,021.25 +19.09 0.95%
NASDAQ 4,683.4070 +45.4130 0.98%

Partners Compare Online Brokers

Free Reports

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs