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BlackRock Corporate High Yield Fund, Inc. (HYT) reports closed-end fund developments tied to its high-yield corporate credit portfolio, monthly distributions, net asset value and common-share capital structure. The BlackRock fund seeks current income as its primary objective and capital appreciation as a secondary objective, investing primarily in high-yield securities of corporate issuers and related derivatives. Recent company news has centered on transferable rights offerings, subscription pricing based on NAV, over-subscription mechanics, Board and adviser decisions, and how capital actions relate to the Fund’s income strategy and shareholder distributions.
BlackRock Corporate High Yield Fund (NYSE: HYT) completed a transferable rights offering that expired on January 26, 2026, authorizing subscription for up to 32,609,596 common shares at a final subscription price of $8.68 per share (90% of NAV as of 1/26/2026).
The Offer was over-subscribed; the Fund will exercise the over-subscription privilege and expects to issue >32 million shares for anticipated proceeds of approximately $283 million. Shares from the Offer will be eligible for the expected February 2026 monthly distribution.
BlackRock Corporate High Yield Fund (NYSE: HYT) announced a transferable rights offering to holders of record as of January 2, 2026. Each Record Date shareholder will receive one Right per share and may subscribe for one new Share for every 5 Rights (1-for-5), with shareholders owning fewer than five Shares eligible to subscribe for one Share. The Subscription Price will be set on the expected Expiration Date of January 26, 2026, equal to 95% of the average NYSE sale price over the Expiration Date and four prior trading days, subject to adjustments tied to NAV (floor of 90% of NAV and cap to $0.01 below NAV if Formula Price ≥ NAV). Rights are expected to trade as HYT RT through January 23, 2026. All Offer expenses will be borne by the Adviser; Shares issued will receive the expected February 2026 distribution but not the January 2026 distribution. The Fund will terminate its at-the-market offering before the Offer begins.
BlackRock Corporate High Yield Fund (NYSE: HYT) has completed its transferable rights offer, which ran from September 20, 2022 to October 13, 2022. Rights holders could subscribe for up to 24,463,440 shares of common stock at a final subscription price of $8.23 per share. The offer is expected to yield gross proceeds of approximately $168 million and will lead to the issuance of over 20.3 million shares. BlackRock Advisors will cover all expenses related to the offer, and proceeds will be invested according to the Fund's objectives.
BlackRock Corporate High Yield Fund (NYSE: HYT) announced a rights offering, allowing shareholders as of September 20, 2022, to purchase additional shares at a discount. The Fund's Board approved this move to increase assets for investment opportunities, aiming to benefit shareholders through current income and potential capital appreciation. The Offer includes opportunities in the high yield market, enhanced liquidity, and reduced expense ratios, with the Advisor covering all Offer expenses. The subscription price will be determined on the expiration date of the Offer, expected October 13, 2022.
The Board of Directors of BlackRock Corporate High Yield Fund, Inc. (HYT) declared an early monthly distribution for October 2022 of $0.077900 per share. Shares purchased after October 3, 2022, will not receive this distribution. Key dates noted are: Declaration on 9/8/2022, Ex-Date on 10/4/2022, Record Date on 10/5/2022, and Payable Date on 10/31/2022. The Fund follows a managed distribution plan, aiming to distribute all available income while adhering to IRS regulations.