BlackRock Municipal Income Trust II Completes Merger into BlackRock MuniHoldings Fund

summarizeSummary

BlackRock Municipal Income Trust II (BLE) has completed its reorganization, merging into BlackRock MuniHoldings Fund, Inc. (MHD), with shareholders receiving MHD shares based on net asset value.

check_boxKey Events

• Merger Completion

  BlackRock Municipal Income Trust II (BLE) has officially completed its reorganization, merging into BlackRock MuniHoldings Fund, Inc. (MHD).

• Share Conversion Terms

  Common shareholders of BLE received shares of MHD based on the aggregate net asset value of their holdings, with fractional shares paid in cash. Preferred shareholders received equivalent preferred shares in MHD.

• Discount Management Program Adoption

  The acquiring fund, BlackRock MuniHoldings Fund, Inc. (MHD), has adopted a Discount Management Program for 2026, which includes a potential tender offer to repurchase shares if the fund trades at a discount greater than 10% to NAV.

auto_awesomeAnalysis

This filing confirms the completion of the previously announced merger of BlackRock Municipal Income Trust II (BLE) into BlackRock MuniHoldings Fund, Inc. (MHD). For shareholders of BLE, this means their investment has been converted into shares of MHD, fundamentally altering their holdings. The reorganization was based on the relative net asset values of the funds' common shares, and preferred shareholders also received equivalent shares in the survivor fund. The combined entity, MHD, has also adopted a Discount Management Program, which could provide future liquidity for shareholders if the fund trades at a significant discount to its net asset value. This is a significant corporate action that concludes the existence of BLE as a standalone fund.