BlackRock MuniAssets Fund, Inc. (MUA) Announces Variable Rate Preferred Shares Issuance
BlackRock Advisors, LLC has announced the successful pricing and placement of $175 million in Variable Rate Demand Preferred Shares (VRDP) for BlackRock MuniAssets Fund, Inc. (NYSE: MUA). The issuance, consisting of 1,750 shares with a liquidation preference of $100,000 each, aims to enhance the Fund's leverage and is expected to be accretive to earnings. The VRDP is rated Aa2 and is part of an offering exempt from registration under the Securities Act of 1933.
- Successful pricing of $175 million in Variable Rate Demand Preferred Shares.
- Proceeds will increase leverage for the Fund, potentially enhancing earnings.
- None.
VRDP Details |
Proceeds |
VRDP CUSIP |
Series W-7 Variable Rate Demand Preferred Shares |
|
09254J201 |
This press release is neither an offer to sell nor a solicitation of an offer to buy any of these securities.
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FAQ
What is the amount raised by BlackRock MuniAssets Fund, Inc. (NYSE: MUA)?
What are Variable Rate Demand Preferred Shares (VRDP) used for in the context of BlackRock MuniAssets Fund, Inc. (NYSE: MUA)?
What is the rating of the VRDP issued by BlackRock MuniAssets Fund, Inc. (NYSE: MUA)?
What is the liquidation preference of the shares issued by BlackRock MuniAssets Fund, Inc. (NYSE: MUA)?
