BlackRock Municipal Income Quality Trust Completes Merger into BlackRock MuniHoldings Fund

summarizeSummary

BlackRock Municipal Income Quality Trust (BYM) has completed its merger into BlackRock MuniHoldings Fund (MHD), with BYM shareholders receiving MHD shares and the combined fund adopting a new Discount Management Program.

check_boxKey Events

• Merger Completion

  BlackRock Municipal Income Quality Trust (BYM) has completed its reorganization, merging with and into BlackRock MuniHoldings Fund, Inc. (MHD).

• Share Conversion

  Common shareholders of BYM received 0.93562479 shares of MHD for each BYM share, based on relative net asset values at the close of business on February 6, 2026.

• Discount Management Program Adopted

  The survivor fund, BlackRock MuniHoldings Fund (MHD), has adopted a Discount Management Program (DMP) to potentially repurchase shares if the fund trades at a significant discount to NAV.

auto_awesomeAnalysis

BlackRock Municipal Income Quality Trust (BYM) has completed its reorganization, merging into BlackRock MuniHoldings Fund, Inc. (MHD). This definitive action means BYM shareholders now hold shares in MHD, fundamentally altering their investment. The reorganization was based on the relative net asset values of the funds' common shares, with BYM shareholders receiving 0.93562479 shares of MHD for each BYM share. Additionally, the acquiring fund, MHD, has adopted a Discount Management Program (DMP). This program aims to enhance long-term shareholder value by offering to repurchase a minimum of 5% of outstanding common shares at 98% of NAV if the fund trades at an average daily discount greater than 10% during a specified 9-month period. This provides a potential mechanism to address share price discounts in the future for the combined entity.