NEW YORK--(BUSINESS WIRE)--$MUI--BlackRock Municipal Income Fund, Inc. (NYSE: MUI, the "Fund") is providing additional information related to the Fund's upcoming conversion from an exchange-listed closed-end fund to an unlisted continuously-offered closed-end fund that conducts quarterly repurchases of its shares (the "Conversion") and will operate under the name BlackRock Municipal Credit Alpha Portfolio, Inc. (the "Interval Fund"). It is currently anticipated that the Conversion will take place after the close of business on March 21, 2025, and be effective on March 24, 2025 (the "Conversion Date").
Delisting From the New York Stock Exchange
In connection with the Conversion, the Fund intends to delist its shares of common stock ("MUI Shares") from the New York Stock Exchange effective as of the close of business on February 14, 2025 (the "Delisting Date"). Please note that, effective as of the Delisting Date, the MUI Shares will no longer trade on the NYSE or any other securities exchange. The Conversion Date and the Delisting Date are subject to change. Any such changes will be announced via press release.
Conversion and First Periodic Repurchase
MUI Shares held on the Conversion Date will be redesignated as Institutional Shares of the Interval Fund ("Interval Fund Shares"). The Interval Fund Shares will not be listed for trading on any securities exchange and a secondary market is not expected to develop for the Interval Fund Shares. As a result, an investment in the Interval Fund is not a liquid investment. Shareholders will generally only be able to sell their Interval Fund Shares through the Interval Fund's quarterly offers to repurchase between 5% and 25% of the outstanding Interval Fund Shares. The Interval Fund currently intends to commence the initial repurchase offer in the second quarter of 2025.
Although the Interval Fund intends to conduct quarterly repurchase offers, such repurchase offers may be oversubscribed. If a repurchase offer is oversubscribed, the Interval Fund will repurchase the shares tendered on a pro rata basis, and shareholders will have to wait until the next repurchase offer to make another repurchase request. As a result, shareholders may be unable to liquidate all or a given percentage of their investment in the Interval Fund through a particular repurchase offer. Shareholders will be subject to the risk of NAV fluctuations and other investment-related risks during that period.
Important Notice to Shareholders Who Hold Shares Through a Financial Intermediary
Following the Conversion, the Interval Fund will offer one or more classes of shares through select financial intermediaries. Shareholders should be aware that not all financial intermediaries will offer to sell shares of the Interval Fund or support quarterly repurchase offers by the Interval Fund.
SHAREHOLDERS SHOULD CONTACT THEIR FINANCIAL INTERMEDIARY AS SOON AS POSSIBLE TO CONFIRM WHETHER THEIR INTERMEDIARY WILL SUPPORT QUARTERLY REPURCHASE OFFERS AND WHAT, IF ANY, EFFECT THE CONVERSION WILL HAVE ON THE SHAREHOLDER'S ACCOUNT.
Additional Resources Regarding the Conversion:
PRESS RELEASE - June 7, 2024:
BlackRock Municipal Income Fund, Inc. (MUI) Approves Conversion to Unlisted Closed-End Interval Fund Structure
October 16, 2024 SEC Filing:
SEC Registration Filing for BlackRock Municipal Credit Alpha Portfolio (MUNEX)
PRESS RELEASE - November 18, 2024:
BlackRock Municipal Income Fund, Inc. (MUI) Announces Final Results of Tender Offer
Important Notice
This press release is for informational purposes only and shall not constitute a recommendation, an offer to purchase or a solicitation of an offer to sell any common shares of the Fund.
About BlackRock
BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit
Availability of Fund Updates
BlackRock will update performance and certain other data for the Fund on a monthly basis on its website in the "Closed-end Funds" section of as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Fund. This reference to BlackRock's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate BlackRock's website in this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or the Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund's or BlackRock's future financial or business performance, strategies or expectations. 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 BlackRock assumes no duty to and does not undertake 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.
With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund's net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock's ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of the Fund with the SEC are accessible on the SEC's website at www.sec.gov and on BlackRock's website at , and may discuss these or other factors that affect the Fund. The information contained on BlackRock's website is not a part of this press release.
Contacts 1-800-882-0052
ニューヨーク--(ビジネス ワイヤ)--$MUI--ブラックロック地方自治体インカムファンド株式会社（NYSE: MUI、以下「ファンド」）は、ファンドの今後の取引所上場クローズドエンド型投資信託から、上場されていない継続提供のクローズドエンド型投資信託への転換に関する追加情報を提供しています。このファンドは、四半期ごとの自己株式の買い戻しを行います（以下「転換」）。今後、ブラックロック地方自治体クレジットアルファポートフォリオ株式会社（以下「インターバルファンド」）という名称で運営される予定です。転換は2025年3月21日の営業終了後に行われ、2025年3月24日（以下「転換日」）に有効になると予想されています。
ニューヨーク証券取引所からの上場廃止
転換に関連して、ファンドは2025年2月14日の営業終了時点でニューヨーク証券取引所から普通株式（"MUIシェア"）を上場廃止する予定です（以下「上場廃止日」）。上場廃止日以降、MUIシェアはNYSEや他の証券取引所での取引が行われなくなることに注意してください。転換日と上場廃止日は変更される可能性があります。変更があった場合は、プレスリリースを通じて発表されます。
転換及び初回定期買い戻し
転換日に保有されるMUIシェアは、インターバルファンドの機関投資家向けシェア（"インターバルファンドシェア"）として再指定されます。インターバルファンドシェアは、いかなる証券取引所にも上場されず、インターバルファンドシェアのための二次市場は発展しないと予想されています。このため、インターバルファンドへの投資は流動性のない投資となります。株主は通常、インターバルファンドの四半期ごとの自己株式買い戻しオファーを通じて、発行済みインターバルファンドシェアの5%から25%の範囲でのみ自分のインターバルファンドシェアを売却できることになります。インターバルファンドは現在、2025年の第2四半期に最初の買い戻しオファーを開始する予定です。
インターバルファンドは四半期ごとの買い戻しオファーを実施する予定ですが、そのような買い戻しオファーは申し込みが過剰になる可能性があります。買い戻しオファーが過剰な場合、インターバルファンドはプロラタ方式で申し込まれた株式を買い戻し、株主は次の買い戻しオファーまで再度の買い戻しリクエストを待たなければならないことになります。これにより、株主は特定の買い戻しオファーを通じてインターバルファンドへの投資のすべてまたは特定の割合を流動化できない可能性があります。株主は、その期間中にNAVの変動やその他の投資関連リスクの影響を受けるリスクにさらされることになります。
金融仲介機関を通じて株式を保有する株主への重要なお知らせ
コンバージョン後、インターバルファンドは選定された金融仲介機関を通じて1つ以上のクラスのシェアを提供します。株主は、すべての金融仲介機関がインターバルファンドのシェアを販売したり、インターバルファンドによる四半期ごとの買い戻しオファーをサポートしたりするわけではないことを理解しておくべきです。
株主は、金融仲介機関が四半期ごとの買い戻しオファーをサポートするかどうかを確認するために、できるだけ早く金融仲介機関に連絡する必要があります。また、コンバージョンが株主の口座に与える影響についても確認してください。
コンバージョンに関する追加リソース:
プレスリリース - 2024年6月7日:
ブラックロック地方自治体収入ファンド（MUI）が未上場クローズドエンド型インターバルファンド構造へのコンバージョンを承認
2024年10月16日 SEC提出書類:
ブラックロック地方自治体クレジットアルファポートフォリオ（MUNEX）のSEC登録提出
プレスリリース - 2024年11月18日:
ブラックロック市町村収入ファンド株式会社（MUI）が入札の最終結果を発表
重要なお知らせ
このプレスリリースは情報提供の目的のみであり、Fundの普通株式の購入を推奨するものでもなく、購入の申し出や売却の申し出を勧誘するものではありません。
ブラックロックについて
ブラックロックの目的は、より多くの人々が財務的な幸福を体験する手助けをすることです。投資家への受託者として、また金融テクノロジーの主要提供者として、私たちは何百万もの人々が人生を通じて役立つ貯蓄を築く手助けをするために、投資をより簡単で手頃なものにしています。ブラックロックに関する追加情報については、
ファンドの更新情報の可用性
ブラックロックは、"クローズドエンド型投資信託"セクションで、ファンドのパフォーマンスやその他の特定のデータを月次でウェブサイトに更新するとともに、必要に応じてその他の重要な情報を時々更新します。投資家やその他の方々は、ファンドのパフォーマンス情報やその他の重要な情報のリリースについて最新の情報を得るためにウェブサイトを確認することをお勧めします。このブラックロックのウェブサイトへの言及は、投資家がファンドに関する情報に公にアクセスできるようにするためのものであり、このリリースにおいてブラックロックのウェブサイトを組み込む意図はありません。
将来の見通しに関する記述
This press release, and other statements that BlackRock or the Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund's or BlackRock's future financial or business performance, strategies or expectations. 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 BlackRock assumes no duty to and does not undertake 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.
With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund's net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock's ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.
ファンドの年次および半期報告書とその他の規制提出書類は、SECのウェブサイトwww.sec.govおよびブラックロックのウェブサイトでアクセス可能であり、ファンドに影響を与えるこれらまたはその他の要因について議論されることがあります。ブラックロックのウェブサイトに含まれる情報は、このプレスリリースの一部ではありません。
連絡先
1-800-882-0052
