Toronto-Dominion Bank Acquires 100% of BlackRock MuniVest Fund II's Preferred Shares for $77.8 Million

summarizeSummary

Toronto-Dominion Investments LLC, a subsidiary of The Toronto-Dominion Bank, acquired all 777 outstanding Variable Rate Muni Term Preferred Shares of BlackRock MuniVest Fund II, Inc. for approximately $77.8 million.

check_boxKey Events

• Significant Preferred Share Acquisition

  Toronto-Dominion Investments LLC purchased 777 Variable Rate Muni Term Preferred Shares of BlackRock MuniVest Fund II, Inc.

• Substantial Investment

  The acquisition was valued at approximately $77.8 million, representing 100% of the outstanding preferred shares of this class.

• Pre-Merger Transaction

  The purchase occurred on February 19, 2026, preceding the company's merger into BlackRock MuniYield Quality Fund I on February 23, 2026.

• Institutional Investor

  The acquisition was made by a subsidiary of The Toronto-Dominion Bank, a major financial institution, using working capital.

auto_awesomeAnalysis

This Schedule 13D filing discloses a significant capital transaction where Toronto-Dominion Investments LLC, a subsidiary of The Toronto-Dominion Bank, acquired 100% of BlackRock MuniVest Fund II's Variable Rate Muni Term Preferred Shares for approximately $77.8 million. This purchase, dated February 19, 2026, occurred just prior to the company's reorganization and merger into BlackRock MuniYield Quality Fund I, as announced on February 23, 2026. The acquisition of these preferred shares by a major financial institution likely played a role in the capital restructuring surrounding the merger, providing substantial financing to the company. While the filing states the purpose is for investment and not to influence control, the scale of the transaction is highly material to the company's capital structure.