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BlackRock Municipal Income Fund, Inc. (MUI) Announces Variable Rate Demand Preferred Shares Action

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BlackRock Advisors, has announced that BlackRock Municipal Income Fund, Inc. (NYSE: MUI) plans to redeem all of its outstanding Series W-7 Variable Rate Demand Preferred Shares on September 27, 2024. The redemption will be at a price equal to the liquidation preference of $100,000 per share, along with any accumulated and unpaid dividends through the day before the redemption date. This announcement is purely informational and does not constitute an offer to sell or a solicitation to buy any securities.

BlackRock Advisors ha annunciato che BlackRock Municipal Income Fund, Inc. (NYSE: MUI) prevede di riscattare tutte le sue azioni privilegiate a tasso variabile in circolazione della Serie W-7 il 27 settembre 2024. Il riscatto avverrà a un prezzo pari alla preferenza di liquidazione di $100.000 per azione, insieme a eventuali dividendi accumulati e non pagati fino al giorno precedente la data di riscatto. Questo annuncio è puramente informativo e non costituisce un'offerta di vendita né una sollecitazione all'acquisto di titoli.

BlackRock Advisors ha anunciado que BlackRock Municipal Income Fund, Inc. (NYSE: MUI) planea redimir todas sus acciones preferenciales de tasa variable en circulación de la Serie W-7 el 27 de septiembre de 2024. La redención se realizará a un precio igual a la preferencia de liquidación de $100,000 por acción, junto con cualquier dividendo acumulado y no pagado hasta el día anterior a la fecha de redención. Este anuncio es puramente informativo y no constituye una oferta de venta ni una solicitud de compra de valores.

BlackRock Advisors는 BlackRock Municipal Income Fund, Inc. (NYSE: MUI)2024년 9월 27일에 모든 발행된 W-7 시리즈 가변 금리 우선주를 상환할 계획이라고 발표했습니다. 상환 가격은 주당 $100,000의 청산 우선권과 함께 상환일 전날까지의 누적 및 미지급 배당금을 포함하여 결정됩니다. 이 발표는 순전히 정보 제공을 위한 것이며, 증권을 판매하거나 구매하겠다는 요청을 포함하지 않습니다.

BlackRock Advisors a annoncé que BlackRock Municipal Income Fund, Inc. (NYSE: MUI) prévoit de racheter toutes ses actions privilégiées à taux variable en circulation de la série W-7 le 27 septembre 2024. Le rachat se fera à un prix égal à la préférence de liquidation de 100 000 $ par action, ainsi qu'à tout dividende accumulé et impayé jusqu'au jour précédant la date de rachat. Cet avis est uniquement informatif et ne constitue pas une offre de vente ou une sollicitation d'achat de titres.

BlackRock Advisors hat angekündigt, dass BlackRock Municipal Income Fund, Inc. (NYSE: MUI) plant, alle ausgegebenen Vorzugsaktien der Serie W-7 mit variablem Zinssatz am 27. September 2024 zurückzuziehen. Die Rückzahlung erfolgt zu einem Preis, der der Liquidationspräferenz von 100.000 $ pro Aktie entspricht, einschließlich aller aufgelaufenen und unbezahlten Dividenden bis zum Tag vor dem Rückzahlungstermin. Diese Ankündigung ist rein informativ und stellt kein Angebot zum Verkauf oder eine Aufforderung zum Kauf von Wertpapieren dar.

Positive
  • Redemption of Variable Rate Demand Preferred Shares may improve the Fund's capital structure
  • Full redemption at liquidation preference indicates financial capability to meet obligations
Negative
  • Redemption may reduce the Fund's leveraged assets, potentially impacting returns

NEW YORK--(BUSINESS WIRE)-- BlackRock Advisors, LLC today announced BlackRock Municipal Income Fund, Inc. (NYSE: MUI, the “Fund”, CUSIP: 09253X102) intends to redeem all of its outstanding Series W-7 Variable Rate Demand Preferred Shares on September 27, 2024, at a redemption price equal to the liquidation preference of $100,000 per share, together with accumulated and unpaid dividends through the day prior to the redemption date.

This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

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 www.blackrock.com/corporate.

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 www.blackrock.com 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 Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, 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.

1-800-882-0052

Source: BlackRock Closed-End Funds

FAQ

When will BlackRock Municipal Income Fund, Inc. (MUI) redeem its Series W-7 Variable Rate Demand Preferred Shares?

BlackRock Municipal Income Fund, Inc. (MUI) plans to redeem all of its outstanding Series W-7 Variable Rate Demand Preferred Shares on September 27, 2024.

What is the redemption price for MUI's Series W-7 Variable Rate Demand Preferred Shares?

The redemption price will be equal to the liquidation preference of $100,000 per share, plus any accumulated and unpaid dividends through the day prior to the redemption date.

Will BlackRock Municipal Income Fund, Inc. (MUI) redeem all of its Series W-7 Variable Rate Demand Preferred Shares?

Yes, BlackRock Municipal Income Fund, Inc. (MUI) intends to redeem all of its outstanding Series W-7 Variable Rate Demand Preferred Shares on the announced redemption date.

Is the announcement about MUI's Variable Rate Demand Preferred Shares an offer to sell or buy securities?

No, the press release explicitly states that it is neither an offer to sell nor a solicitation of an offer to buy any of these securities.

BlackRock Municipal Income Fund, Inc.

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