Certain BlackRock Municipal Closed-End Funds Announce Variable Rate Muni Term Preferred Shares Actions

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NEW YORK, November 02, 2023--(BUSINESS WIRE)--BlackRock Advisors, LLC today announced BlackRock Municipal Income Trust (NYSE: BFK), BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN), BlackRock Municipal Income Trust II (NYSE: BLE), BlackRock Municipal Income Quality Trust (NYSE: BYM), BlackRock MuniHoldings Fund, Inc. (NYSE: MHD), BlackRock MuniYield Quality Fund II, Inc. (NYSE: MQT), BlackRock MuniHoldings Quality Fund II, Inc. (NYSE: MUE), BlackRock MuniVest Fund, Inc. (NYSE: MVF), and BlackRock MuniVest Fund II, Inc. (NYSE: MVT) (collectively, the "Funds") intend to redeem a portion of their outstanding Series W-7 Variable Rate Muni Term Preferred Shares ("VMTP Shares") on or about November 24, 2023, at a redemption price equal to the liquidation preference of $100,000 per share, together with accumulated and unpaid dividends through the day prior to the redemption date. Shareholders are expected to benefit from lower expenses as a result of the redemptions. For more details on each Fund and its VMTP Shares see below:

Fund Name

Ticker

VMTP Details

VMTP CUSIP

VMTP Shares to be Redeemed

BlackRock Municipal Income Trust

BFK

Series W-7 Variable Rate Muni Term Preferred Shares

09248F703

1,167

BlackRock Investment Quality Municipal Trust, Inc.

BKN

Series W-7 Variable Rate Muni Term Preferred Shares

09247D501

581

BlackRock Municipal Income Trust II

BLE

Series W-7 Variable Rate Muni Term Preferred Shares

09249N606

1,286

BlackRock Municipal Income Quality Trust

BYM

Series W-7 Variable Rate Muni Term Preferred Shares

092479500

396

BlackRock MuniHoldings Fund, Inc.

MHD

Series W-7 Variable Rate Muni Term Preferred Shares

09253N500

1,338

BlackRock MuniYield Quality Fund II, Inc.

MQT

Series W-7 Variable Rate Muni Term Preferred Shares

09254G603

379

BlackRock MuniHoldings Quality Fund II, Inc.

MUE

Series W-7 Variable Rate Muni Term Preferred Shares

09254C503

530

BlackRock MuniVest Fund, Inc.

MVF

Series W-7 Variable Rate Muni Term Preferred Shares

09253R808

902

BlackRock MuniVest Fund II, Inc.

MVT

Series W-7 Variable Rate Muni Term Preferred Shares

09253T606

623

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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