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BlackRock Taxable Municipal Bond Trust filed a Post-Effective Amendment No. 1 to its Form N-2 on May 29, 2026 that incorporates exhibits and the Final Prospectus dated May 11, 2026 (revised May 29, 2026). The amendment becomes effective immediately under Rule 462(d) and consists primarily of exhibit filings and incorporation by reference of the 2025 Annual Report and audited financial statements for the period ended July 31, 2025.
The filing lists estimated offering expenses totaling $184,946, reports 8 record holders as of May 4, 2026, and attaches distribution and sub-placement agreements and counsel consents. The amendment does not change substantive registration terms and is administrative in nature.
BlackRock Taxable Municipal Bond Trust is registering 21,000,000 common shares for primary offering under a prospectus supplement dated May 29, 2026. The Trust states the last reported NAV was $16.72 and the last reported NYSE sale price was $15.59 as of May 21, 2026.
The prospectus supplement describes an at‑the‑market/sub‑placement distribution through UBS Securities LLC as sub‑placement agent under a Distribution Agreement with BlackRock Investments, LLC. The Trust estimates net proceeds of approximately $323,934,179 assuming sale of all shares at the last reported sale price, and will invest proceeds in accordance with its stated municipal bond investment objectives.
BlackRock Taxable Municipal Bond Trust (BBN) delivers its certified shareholder report for the period ended 12/31/2025, presenting portfolio, leverage and distribution details. The Trust reports net assets $1,067,702,351 and NAV $17.28 per share with shares outstanding 61,792,514.
The Trust’s managed distribution plan pays a monthly distribution of $0.098600 per share (annualized $1.183200) and the reported leverage (reverse repurchase agreements) is 35% of managed assets (borrowings outstanding $565,957,000). For the year, net investment income was $60,648,440, interest expense $23,638,799, and 1-year total return at NAV was 7.93%.
BlackRock Taxable Municipal Bond Trust portfolio manager Walter O'Connor reported a small share transaction involving common stock and cash-settled phantom shares. On January 30, 2026, he acquired 243.5732 shares of common stock following the exercise of phantom share-based rights, then disposed of the same 243.5732 shares at a price of $16.3 per share, leaving 0 common shares directly owned. The filing also shows movements in phantom shares, which are stated to be the economic equivalent of common stock but payable in cash upon vesting, with remaining phantom share balances of 265.0239 and 111.0613 recorded as directly owned.
BlackRock Taxable Municipal Bond Trust portfolio manager Kevin Maloney reported routine equity-based compensation and a small share sale. On January 30, 2026, he received 1,119.6319 phantom shares at $16.3 per share, which are cash-settled awards economically equivalent to common stock and vest over three years.
On the same date, Maloney exercised previously granted phantom shares into 417.7669 common shares and then disposed of those common shares at $16.3 per share, leaving no directly held common stock. The filing also reflects partial conversions of earlier phantom share grants that continue to vest in annual installments.
BlackRock Taxable Municipal Bond Trust portfolio manager Michael Kalinoski reported compensation-related transactions in common stock and phantom shares. On January 30, 2026, he received 128.0675 phantom shares, which are cash-settled units economically equivalent to common stock and vest over three years.
On the same date, previously granted phantom shares vested and were converted into 128.6224 common shares, which were then sold at $16.30 per share. After these trades, Kalinoski directly held 1,523.9209 common shares and 128.0675 phantom shares.
BlackRock Taxable Municipal Bond Trust portfolio manager Christian Romaglino reported a mix of phantom share awards, conversions, and a small share sale. On January 30, 2026, he received 123.4663 phantom shares at $16.3 each, which are cash-settled and economically mirror common stock.
On the same date, 54.5506 phantom shares were converted to the same number of common shares and then sold at $16.3 per share, leaving 0 common shares directly owned and 123.4663 phantom shares outstanding. The phantom awards vest in equal installments over three years.