Business Wire | Sep 28, 2020 04:30PM EDT

Certain Closed-End Funds Announce Renewal of Share Repurchase Programs

Sep. 28, 2020

NEW YORK--(BUSINESS WIRE)--Sep. 28, 2020--BlackRock Advisors, LLC announced today that the Boards of Directors/Trustees of sixty two BlackRock municipal, taxable fixed-income, and equity closed-end funds (the "Funds") have authorized the renewal of open market share repurchase programs (the "Repurchase Programs"). Under each Fund's current Repurchase Program, each Fund may repurchase, through November 30, 2020, up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2019) in open market transactions. Pursuant to the Board's renewal of the Repurchase Programs, commencing on December 1, 2020, each Fund may repurchase up to 5% of its outstanding common shares (based on common shares outstanding on November 30, 2020) in open market transactions through November 30, 2021. The Repurchase Programs seek to enhance shareholder value by purchasing Fund shares trading at a discount from their net asset value ("NAV") per share, which could result in incremental accretion to a Fund's NAV.

The Funds that have authorized the renewal of a Repurchase Program are as follows:

Municipal Funds

Ticker (NYSE) Fund CUSIP

BFZ BlackRock California Municipal Income Trust 09248E102

BKN BlackRock Investment Quality Municipal Trust, Inc. 09247D105

BTA BlackRock Long-Term Municipal Advantage Trust 09250B103

BZM BlackRock Maryland Municipal Bond Trust 09249L105

MHE BlackRock Massachusetts Tax-Exempt Trust 09258E109

MUI BlackRock Muni Intermediate Duration Fund, Inc. 09253X102

MUA BlackRock MuniAssets Fund, Inc. 09254J102

BBK BlackRock Municipal Bond Trust 09249H104

BAF BlackRock Municipal Income Investment Quality Trust 09250G102

BBF BlackRock Municipal Income Investment Trust 09248H105

BYM BlackRock Municipal Income Quality Trust 092479104

BFK BlackRock Municipal Income Trust 09248F109

BLE BlackRock Municipal Income Trust II 09249N101

MEN BlackRock MuniEnhanced Fund, Inc. 09253Y100

MUC BlackRock MuniHoldings California Quality Fund, Inc. 09254L107

MHD BlackRock MuniHoldings Fund, Inc. 09253N104

MUH BlackRock MuniHoldings Fund II, Inc. 09253P109

MFL BlackRock MuniHoldings Investment Quality Fund 09254P108

MUJ BlackRock MuniHoldings New Jersey Quality Fund, Inc. 09254X101

MHN BlackRock MuniHoldings New York Quality Fund, Inc. 09255C106

MUS BlackRock MuniHoldings Quality Fund, Inc. 09254A101

MUE BlackRock MuniHoldings Quality Fund II, Inc. 09254C107

MVF BlackRock MuniVest Fund, Inc. 09253R105

MVT BlackRock MuniVest Fund II, Inc. 09253T101

MZA BlackRock MuniYield Arizona Fund, Inc. 09254K109

MYC BlackRock MuniYield California Fund, Inc. 09254M105

MCA BlackRock MuniYield California Quality Fund, Inc. 09254N103

MYD BlackRock MuniYield Fund, Inc. 09253W104

MYF BlackRock MuniYield Investment Fund 09254R104

MFT BlackRock MuniYield Investment Quality Fund 09254T100

MIY BlackRock MuniYield Michigan Quality Fund, Inc. 09254V105

MYJ BlackRock MuniYield New Jersey Fund, Inc. 09254Y109

MYN BlackRock MuniYield New York Quality Fund, Inc. 09255E102

MPA BlackRock MuniYield Pennsylvania Quality Fund 09255G107

MQY BlackRock MuniYield Quality Fund, Inc. 09254F100

MQT BlackRock MuniYield Quality Fund II, Inc. 09254G108

MYI BlackRock MuniYield Quality Fund III, Inc. 09254E103

BSE BlackRock New York Municipal Income Quality Trust 09249U105

BNY BlackRock New York Municipal Income Trust 09248L106

BFY BlackRock New York Municipal Income Trust II 09249R102

BSD The BlackRock Strategic Municipal Trust 09248T109

BHV BlackRock Virginia Municipal Bond Trust 092481100

Taxable Fixed-Income Funds

Ticker (NYSE) Fund CUSIP

BBN BlackRock Taxable Municipal Bond Trust 09248X100

BHK BlackRock Core Bond Trust 09249E101

HYT BlackRock Corporate High Yield Fund, Inc. 09255P107

BTZ BlackRock Credit Allocation Income Trust 092508100

EGF BlackRock Enhanced Government Fund, Inc. 09255K108

FRA BlackRock Floating Rate Income Strategies Fund, Inc. 09255X100

BGT BlackRock Floating Rate Income Trust 091941104

BKT BlackRock Income Trust, Inc. 09247F100

BLW BlackRock Limited Duration Income Trust 09249W101

BIT BlackRock Multi-Sector Income Trust 09258A107

DSU BlackRock Debt Strategies Fund, Inc. 09255R202

Equity Funds

Ticker Fund CUSIP(NYSE)

BGR BlackRock Energy and Resources Trust 09250U101

CII BlackRock Enhanced Capital and Income Fund, Inc. 09256A109

BDJ BlackRock Enhanced Equity Dividend Trust 09251A104

BOE BlackRock Enhanced Global Dividend Trust 092501105

BME BlackRock Health Sciences Trust 09250W107

BGY BlackRock Enhanced International Dividend Trust 092524107

BCX BlackRock Resources & Commodities Strategy Trust 09257A108

BST BlackRock Science and Technology Trust 09258G104

BUI BlackRock Utilities, Infrastructure & Power 09248D104 Opportunities Trust

The amount and timing of any repurchases under each Fund's Repurchase Program will be determined either at the discretion of the Fund's management or pursuant to predetermined parameters and instructions subject to market conditions. There is no assurance that any Fund will repurchase shares in any particular amounts. A Fund's repurchase activity will be disclosed in its shareholder report for the relevant fiscal period. Any repurchases made under any Fund Repurchase Program will be made on a national security exchange at the prevailing market price, subject to exchange requirements and certain volume and timing limitations and other regulations under federal securities laws.

About BlackRock

BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of June 30, 2020, the firm managed approximately $7.32 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit www.blackrock.com | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock

Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the "Closed-end Funds" section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock's website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock's website in this release.

Forward-Looking Statements

This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund's 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.

BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.

With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund's net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock's ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.

Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission ("SEC") are accessible on the SEC's website at www.sec.gov and on BlackRock's website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock's website is not a part of this press release.

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CONTACT: BlackRock Closed-End Funds 1-800-882-0052