BlackRock Advisors, LLC today announced that BlackRock Muni Intermediate Duration Fund, Inc. (NYSE:MUI, the “Fund”) successfully priced and placed Variable Rate Muni Term Preferred Shares (“VMTP”) pursuant to an offering exempt from registration under the Securities Act of 1933. Totaling approximately $287 million in aggregate, the proceeds from the VMTP issuance will be used to redeem all of the Fund’s outstanding Variable Rate Demand Preferred Shares (“VRDP”), which is expected to occur on or about December 21, 2012. In connection with this issuance, BlackRock will post regular portfolio information for the Fund on its public website at www.blackrock.com. This information includes fund holdings (which will be available monthly after a 15-day lag) and asset coverage and leverage ratios (which will be available weekly). This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities.About BlackRock BlackRock is a leader in investment management, risk management and advisory services for institutional and retail clients worldwide. At September 30, 2012, BlackRock’s AUM was $3.673 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 September 30, 2012, the firm has approximately 10,400 employees in 29 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 Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund 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.
In trading on Tuesday, shares of BlackRock Muni Intermediate Duration Fund crossed below their 200 day moving average of $14.47, changing hands as low as $14.36 per share. BlackRock Muni Intermediate Duration Fund shares are currently trading off about 1.2% on the day.