BlackRock Credit Allocation Income Trust Announces Expiration and Preliminary Results of Tender Offer
BlackRock Credit Allocation Income Trust (BTZ)
US:NYSE Investor Relations:
blackrock.com/investing/products/240168/blackrock-credit-allocation-income-trust-usd-fund
Company Research
Source: Business Wire
NEW YORK--(BUSINESS WIRE)--BlackRock Credit Allocation Income Trust (the “Trust”) (NYSE: BTZ, CUSIP: 092508100) announced today the expiration and preliminary results of the Trust’s tender offer (the “Tender Offer”) for up to 10% of its outstanding common shares of beneficial interest (the “Shares”), or 10,386,555 Shares. The Tender Offer commenced on January 2, 2020 and expired at 5:00 p.m. Eastern time on February 3, 2020.Based on preliminary information, approximately 41,241,878 Shares were properly tendered. Because the Tender Offer was oversubscribed, the relative number of Shares that will be purchased from each shareholder will be prorated based on the number of Shares properly tendered. The purchase price of properly tendered and accepted Shares will be 98% of the Fund's net asset value (“NAV”) as of the close of regular trading on the New York Stock Exchange on the business day on which the Tender Offer expires. The Trust expects to announce the final results of the Tende
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