BlackRock Closed-End Funds Provide Update on Discount Management Programs, No Tender Offers Required

BlackRock closed-end funds announced the results of their discount management programs, which aimed to repurchase at least 5% of outstanding common shares if the funds traded at an average daily discount to net asset value of over 10%. Based on the average daily discounts during the measurement period, no tender offers are required, and the funds will not be conducting tender offers. The programs aim to manage the funds' premium/discount to NAV, enhance long-term shareholder value, and provide liquidity to the market.

BlackRock closed-end funds have announced the results of their discount management programs, which aimed to repurchase at least 5% of outstanding common shares if the funds traded at an average daily discount to net asset value (NAV) of over 10%. Based on the average daily discounts during the measurement period, no tender offers are required, and the funds will not be conducting tender offers. The programs aim to manage the funds' premium/discount to NAV, enhance long-term shareholder value, and provide liquidity to the market.

The funds that participated in the program include BlackRock Resources & Commodities Strategy Trust (NYSE: BCX), BlackRock Enhanced Equity Dividend Trust (NYSE: BDJ), BlackRock Energy and Resources Trust (NYSE: BGR), BlackRock Enhanced International Dividend Trust (NYSE: BGY), BlackRock Health Sciences Trust (NYSE: BME), BlackRock Health Sciences Term Trust (NYSE: BMEZ), BlackRock Enhanced Global Dividend Trust (NYSE: BOE), BlackRock Utilities, Infrastructure & Power Opportunities Trust (NYSE: BUI), BlackRock Enhanced Large Cap Core Fund, Inc. (NYSE: CII), BlackRock Science and Technology Trust (NYSE: BST), BlackRock Science and Technology Term Trust (NYSE: BSTZ), BlackRock Technology and Private Equity Term Trust (NYSE: BTX), BlackRock Capital Allocation Term Trust (NYSE: BCAT), and BlackRock ESG Capital Allocation Term Trust (NYSE: ECAT).

The funds have adopted a managed distribution plan to support a level monthly distribution of income, capital gains, and/or return of capital. If sufficient income is not available on a monthly basis, the funds will distribute long-term capital gains and/or return capital to their shareholders to maintain a level distribution.

The announcement is part of BlackRock's ongoing efforts to manage the funds' premium/discount to NAV, enhance long-term shareholder value, and provide liquidity to the market. The programs aim to ensure that the funds remain attractive to investors by maintaining a stable and predictable distribution policy.