BlackRock Completes Merger of BNY into MuniYield NY Quality Fund (MYN)

summarizeSummary

BlackRock announced the completion of the reorganization of BlackRock New York Municipal Income Trust (BNY) into BlackRock MuniYield New York Quality Fund, Inc. (MYN), effective February 9, 2026, with BNY shareholders receiving MYN shares.

check_boxKey Events

• Merger Completion

  BlackRock New York Municipal Income Trust (BNY) has completed its reorganization and merger into BlackRock MuniYield New York Quality Fund, Inc. (MYN).

• Share Conversion

  BNY common shareholders received shares of MYN based on the relative net asset values of each fund's common shares as of February 6, 2026, in a transaction expected to be non-taxable.

• Discount Management Program Adopted

  The acquiring fund, MYN, adopted a Discount Management Program, which includes a plan to repurchase a minimum of 5% of its outstanding common shares at 98% of NAV if the fund trades at an average daily discount greater than 10% during a 9-month measurement period.

auto_awesomeAnalysis

The completion of this reorganization fundamentally alters the investment for shareholders of BlackRock New York Municipal Income Trust (BNY), as the fund ceases to exist as a standalone entity. Shareholders received shares of BlackRock MuniYield New York Quality Fund, Inc. (MYN) based on relative net asset values, in a transaction expected to be non-taxable. Additionally, the acquiring fund, MYN, adopted a Discount Management Program, which aims to enhance long-term shareholder value by offering periodic share repurchases if the fund trades at a significant discount to its net asset value. This program could provide a mechanism to mitigate future discounts for the combined entity's shareholders.