BlackRock 2022 Global Income Opportunity Trust Announces Adoption of Plan of Liquidation

Rhea-AI Summary

BlackRock Advisors announced the Board of Trustees of BlackRock 2022 Global Income Opportunity Trust (BGIO) has approved a Plan of Liquidation. This decision aligns with its goal to terminate by February 28, 2022. The Fund will start liquidating assets and expects to provide shareholders with a final distribution by December 31, 2021. The liquidation comes earlier than planned due to favorable market conditions. Since inception, BGIO has delivered an annualized total return of 5.0% and paid out $2.59 per share in distributions. Trading will continue on NYSE until December 2021.

Positive

• Annualized total return of 5.0% on market price.
• Distributed $2.59 per share since inception.
• Liquidating assets due to favorable market conditions.

Negative

• Suspension of Automatic Dividend Reinvestment Plan.
• Uncertainty regarding the amount of final liquidating distribution.

BlackRock Advisors, LLC announced today that the Board of Trustees of BlackRock 2022 Global Income Opportunity Trust (NYSE: BGIO, CUSIP: 09258P104) (the “Fund”) approved the adoption of a Plan of Liquidation in accordance with its investment objective of terminating on or before February 28^th, 2022. Under the Fund's Plan of Liquidation, which is effective today, the Fund will begin the process of liquidating portfolio assets and unwinding its affairs. The Fund expects to make a final liquidating distribution by December 31, 2021. The Fund is liquidating earlier than anticipated given the favorable market environment for unwinding its assets and returning shareholder capital in a timely manner. The Trust’s investment objectives and policies are not designed to seek to return to investors the initial offering price per common share on the termination date. The Fund has an annualized total return of 5.0% on market price and has paid out $2.59 per share in distributions since inception¹.

The Trust expects to make periodic liquidating distributions to shareholders pursuant to the Plan of Liquidation in advance of its termination and make a final liquidating distribution on or around December 31, 2021. Upon the effectiveness of the Fund’s Plan of Liquidation, the Automatic Dividend Reinvestment Plan of the Fund has been suspended with respect to any dividends or distributions for which the record date is on or after June 30, 2021. All such dividends or distributions will be paid in cash.

The Fund’s common shares will continue to trade the “regular way” on the New York Stock Exchange through December 2021 and will be suspended from trading before December 31, 2021.

¹As of 6/28/21

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 | Twitter: @blackrock | Blog: www.blackrockblog.com | LinkedIn: www.linkedin.com/company/blackrock

Availability of Fund Updates

BlackRock will update performance and certain other data for the Funds 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 Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds 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 Funds may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a 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 Funds, 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 a Fund or in a Fund’s net asset value; (2) the relative and absolute investment performance of a 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, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a 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 Funds with the 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 Funds. The information contained on BlackRock’s website is not a part of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20210630005961/en/

FAQ

What is the status of BlackRock 2022 Global Income Opportunity Trust (BGIO)?

The Board of Trustees has approved a Plan of Liquidation, with termination expected by February 28, 2022.

When will BGIO make its final liquidating distribution?

The final liquidating distribution is expected by December 31, 2021.

How has BGIO performed since inception?

BGIO has provided an annualized total return of 5.0% and paid out $2.59 per share in distributions.

Will BGIO continue trading after the liquidation announcement?

Yes, BGIO will continue to trade on the NYSE until December 2021.