BlackRock 2037 Municipal Target Term Trust Issues $50 Million in Variable Rate Preferred Shares

BlackRock 2037 Municipal Target Term Trust has successfully priced and placed $50 million of Variable Rate Demand Preferred Shares, which will be used to increase leverage in the fund. The proceeds are expected to be accretive to the fund's earnings and consistent with its investment objectives. The fund aims to provide current income exempt from regular federal income tax and return $25.00 per common share by September 30, 2037.

BlackRock Advisors, LLC (“BlackRock”) has announced the successful pricing and placement of $50 million in Variable Rate Demand Preferred Shares (VRDP) for the BlackRock 2037 Municipal Target Term Trust (NYSE: BMN; CUSIP: 09262G108). The proceeds from this issuance will be used to increase leverage in the Fund BlackRock 2037 Municipal Target Term Trust (BMN) Announces Variable Rate Preferred Share Issuance^[1].

The VRDP shares, with a ticker symbol of BMN and a CUSIP of 09262G207, are part of an offering exempt from registration under the Securities Act of 1933. BlackRock believes that the issuance of these shares will be accretive to the Fund’s earnings, aligning with its investment objectives to provide current income that is exempt from regular federal income tax and to return $25.00 per common share to holders by September 30, 2037 BlackRock 2037 Municipal Target Term Trust (BMN) Announces Variable Rate Preferred Share Issuance^[1].

The Fund aims to generate current income that is exempt from regular federal income tax, although it may be subject to the federal alternative minimum tax in certain circumstances. The Fund’s goal is to provide investors with a steady income stream while also returning a specified amount per common share by a specific date BlackRock 2037 Municipal Target Term Trust (BMN) Announces Variable Rate Preferred Share Issuance^[1].

BlackRock has stated that the Fund will provide updates on its performance and other relevant information on a monthly basis through its website. Investors are advised to check the website for the latest updates and information about the Fund BlackRock 2037 Municipal Target Term Trust (BMN) Announces Variable Rate Preferred Share Issuance^[1].

This press release includes forward-looking statements, which are subject to numerous assumptions, risks, and uncertainties. These statements may differ materially from actual results, and actual results could vary from those anticipated. BlackRock cautions that forward-looking statements are subject to risks and uncertainties, including changes in political, economic, or industry conditions, interest rate environments, and financial markets, among others BlackRock 2037 Municipal Target Term Trust (BMN) Announces Variable Rate Preferred Share Issuance^[1].

For additional information about BlackRock and its funds, investors can visit the company's corporate website at www.blackrock.com/corporate BlackRock 2037 Municipal Target Term Trust (BMN) Announces Variable Rate Preferred Share Issuance^[1].