BlackRock announced today that the Boards of Trustees of the
BlackRock Closed-End Funds approved the reorganization of each of
BlackRock California Municipal Income Trust II (NYSE Amex:BCL),
BlackRock California Insured Municipal Income Trust (NYSE:BCK),
BlackRock California Municipal Bond Trust (NYSE:BZA), BlackRock
California Investment Quality Municipal Trust Inc. (NYSE Amex:RAA)
and BlackRock California Municipal Income Trust (NYSE:BFZ), with
BFZ being the surviving fund.
In approving the transactions, the Trustees considered, among
other things, each fund�s investment objective, net asset value and
stock price performance, pattern of trading discounts, distribution
yield, earnings and expenses. BFZ�s investment objective is to
provide current income exempt from regular U.S. Federal and
California income taxes.
It is currently expected that the reorganizations will be
concluded in the fourth quarter of 2009, subject to requisite
shareholder approvals and all regulatory requirements and customary
closing conditions being satisfied. If the fund reorganizations
occur, each transaction would occur based on the relative net asset
values of BCL, BCK, BZA, RAA and BFZ.
Additional Information about the Proposed Reorganizations and
Where to Find It
This press release is not intended to, and shall not, constitute
an offer to purchase or sell shares of any of the funds; nor is
this press release intended to solicit a proxy from any shareholder
of any of the funds. The solicitation of the purchase or sale of
securities or of proxies to effect each reorganization may only be
made by a final, effective Registration Statement, which includes a
definitive Joint Proxy Statement/Prospectus, after the Registration
Statement is declared effective by the Securities and Exchange
Commission (�SEC�).
This press release references a Registration Statement, which
includes a Joint Proxy Statement/Prospectus, to be filed by the
funds. This Registration Statement has yet to be filed with the
SEC. After the Registration Statement is filed with the SEC, it may
be amended or withdrawn and the Joint Proxy Statement/Prospectus
will not be distributed to shareholders of the funds unless and
until the Registration Statement is declared effective by the
SEC.
The funds and their respective directors, trustees, officers and
employees, and BlackRock, and its shareholders, officers and
employees and other persons may be deemed to be participants in the
solicitation of proxies with respect to these proposed
reorganizations. Investors and shareholders may obtain more
detailed information regarding the direct and indirect interests of
the funds' respective directors, trustees, officers and employees,
and BlackRock and its shareholders, officers and employees and
other persons by reading the Joint Proxy Statement/Prospectus
regarding the proposed reorganizations when it is filed with the
SEC.
INVESTORS AND SECURITY HOLDERS OF THE FUNDS ARE URGED TO READ
THE JOINT PROXY STATEMENT/PROSPECTUSES AND OTHER DOCUMENTS FILED
WITH THE SEC CAREFULLY IN THEIR ENTIRETY WHEN THEY BECOME AVAILABLE
BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED
REORGANIZATIONS. INVESTORS SHOULD CONSIDER THE INVESTMENT
OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE FUNDS CAREFULLY. THE
JOINT PROXY STATEMENT/PROSPECTUSES WILL CONTAIN INFORMATION WITH
RESPECT TO THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES
OF THE FUNDS AND OTHER IMPORTANT INFORMATION ABOUT THE FUNDS. The
Joint Proxy Statement/Prospectus will constitute neither an offer
to sell securities, nor will it constitute a solicitation of an
offer to buy securities, in any state where such offer or sale is
not permitted.
Investors may obtain free copies of the Registration Statement
and Joint Proxy Statement/Prospectus and other documents (when they
become available) filed with the SEC at the SEC's web site at
www.sec.gov. In addition, free copies of each Joint Proxy
Statement/Prospectus and other documents filed with the SEC may
also be obtained after each Registration Statement becomes
effective by directing a request to BlackRock at (800)
882-0052.
About BlackRock
BlackRock is one of the world�s largest publicly traded
investment management firms. At March 31, 2009, BlackRock�s assets
under management were $1.283 trillion. The firm manages assets on
behalf of institutions and individuals worldwide through a variety
of equity, fixed income, cash management and alternative investment
products. In addition, a growing number of institutional investors
use BlackRock Solutions investment system, risk management and
financial advisory services. Headquartered in New York City, as of
March 31, 2009, the firm has approximately 5,200 employees in 21
countries and a major presence in key global markets, including the
U.S., Europe, Asia, Australia and the Middle East. For additional
information, please visit the firm�s web site at
www.blackrock.com.
Forward-Looking Statements
This press release, and other statements that BlackRock or BCL,
BCK, BZA, RAA or BFZ (the �Funds�) may make, may contain certain
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act, with respect to the future
financial or business performance, strategies or expectations of
BlackRock or the Funds. 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 neither BlackRock nor any of the Funds assumes a duty to
or undertakes 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.
The following factors, among others, could cause actual events
to differ materially from forward-looking statements or historical
performance: (1) the introduction, withdrawal, success and timing
of business initiatives and strategies; (2) changes in political,
economic or industry conditions, the interest rate environment or
financial and capital markets, which could result in changes in the
Funds� net asset value; (3) the impact of increased competition;
(4) the impact of future acquisitions or divestitures; (5) the
unfavorable resolution of any legal proceedings; (6) the extent and
timing of any distributions or share repurchases; (7) the impact,
extent and timing of technological changes and the adequacy of
intellectual property protections; (8) the impact of legislative
and regulatory actions and reforms and regulatory, supervisory or
enforcement actions of government agencies relating to the Fund,
BlackRock, or PNC; (9) terrorist activities and international
hostilities, which may adversely affect the general economy,
domestic and local financial and capital markets; (10) the ability
to attract and retain highly talented professionals; (11) the
impact of changes to tax legislation; (12) the Funds� inability to
obtain the necessary shareholder approvals for the mergers to
occur; (13) the Funds� inability to satisfy the requisite
regulatory requirements or closing conditions; and (14) the Funds�
inability to complete the mergers in a timely manner.
The Annual and Semi-Annual Reports and other regulatory filings
of the BlackRock Closed-End Funds 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 Closed-End Funds. The information contained on our
website is not a part of this press release.
Grafico Azioni Blackrock Cal Mun Bd (NYSE:BZA)
Storico
Da Apr 2024 a Mag 2024
Grafico Azioni Blackrock Cal Mun Bd (NYSE:BZA)
Storico
Da Mag 2023 a Mag 2024
