-BlackRock wins board nod for fixed income fund reorganisation.
BANKING AND CREDIT NEWS-July 1, 2013--BlackRock wins board nod for fixed income fund reorganisation(C)2013 M2 COMMUNICATIONS http://www.m2.com
1 July 2013 -- New York-based BlackRock Advisors LLC said that the boards of directors/Trustees of each of BlackRock High Yield Trust (NYSE: BHY), BlackRock Corporate High Yield Fund, Inc. (NYSE: COY), BlackRock Corporate High Yield Fund III, Inc. (NYSE: CYE), BlackRock High Income Shares (NYSE: HIS), BlackRock Corporate High Yield Fund V, Inc. (NYSE: HYV) and BlackRock Corporate High Yield Fund VI, Inc. (NYSE: HYT) have approved the reorganisation of each of BHY, COY, CYE, HIS and HYV into HYT, with HYT continuing as the surviving fund.
It is currently expected that each reorganisation will be completed in late 2013, subject to required shareholder approvals and the satisfaction of applicable regulatory requirements and other customary closing conditions. Approval of each reorganisation is not contingent upon approval of any other Reorganization.
BlackRock is in investment management, risk management and advisory services for institutional and retail clients worldwide. At March 31, 2013, BlackRock's AUM was USD 3.936 trillion.
The firm has approximately 10,600 employees in 30 countries and a major presence in key global markets, including North and South America, Europe, Asia, Australia and the Middle East and Africa.
For additional information visit www.blackrock.com.
1 USD = 0.657448 GBP
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|Publication:||M2 Banking & Credit News (BCN)|
|Date:||Jul 1, 2013|
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