BlackRock Credit Allocation Income Trust Announces Expiration and Preliminary Results of Tender Offer
04 Febbraio 2020 - 12:15AM
Business Wire
BlackRock Credit Allocation Income Trust (the “Trust”) (NYSE:
BTZ, CUSIP: 092508100) announced today the expiration and
preliminary results of the Trust’s tender offer (the “Tender
Offer”) for up to 10% of its outstanding common shares of
beneficial interest (the “Shares”), or 10,386,555 Shares. The
Tender Offer commenced on January 2, 2020 and expired at 5:00 p.m.
Eastern time on February 3, 2020.
Based on preliminary information, approximately 41,241,878
Shares were properly tendered. Because the Tender Offer was
oversubscribed, the relative number of Shares that will be
purchased from each shareholder will be prorated based on the
number of Shares properly tendered. The purchase price of properly
tendered and accepted Shares will be 98% of the Fund's net asset
value (“NAV”) as of the close of regular trading on the New York
Stock Exchange on the business day on which the Tender Offer
expires. The Trust expects to announce the final results of the
Tender Offer on or about February 4, 2020.
Questions regarding the Tender Offer may be directed to
Georgeson LLC, the Information Agent for the Tender Offer, toll
free at (877) 278-9670.
Important Notice
This press release is for informational purposes only and shall
not constitute an offer or a solicitation to buy any common shares.
The offer to purchase Trust common shares was made only pursuant to
an offer on Schedule TO. Common shareholders may obtain a free copy
of the offer to purchase and other documents filed with the
Securities and Exchange Commission (“SEC”) at the website
maintained by the SEC at www.sec.gov or by directing such requests
to the Trust.
About BlackRock
BlackRock helps investors build better financial futures. 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 December 31, 2019,
the firm managed approximately $7.429 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 Trust Updates
BlackRock will update performance and certain other data for the
Trust 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 Trust. This reference to BlackRock’s website
is intended to allow investors public access to information
regarding the Trust 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 the
Trust may make, may contain forward-looking statements within the
meaning of the Private Securities Litigation Reform Act, with
respect to the Trust’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 Trust, 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 Trust or
in the Trust’s net asset value; (2) the relative and absolute
investment performance of the Trust 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 the Trust or BlackRock, as applicable; (8) terrorist activities,
international hostilities, health epidemics 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 Trust with the 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 Trust. The
information contained on BlackRock’s website is not a part of this
press release.
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version on businesswire.com: https://www.businesswire.com/news/home/20200203005817/en/
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