NEW YORK -- (Business Wire)
BlackRock Advisors, LLC today announced that BlackRock Muni Intermediate
Duration Fund, Inc. (NYSE:MUI, the “Fund”) successfully priced and
placed Variable Rate Muni Term Preferred Shares (“VMTP”) pursuant to an
offering exempt from registration under the Securities Act of 1933.
Totaling approximately $287 million in aggregate, the proceeds from the
VMTP issuance will be used to redeem all of the Fund’s outstanding
Variable Rate Demand Preferred Shares (“VRDP”), which is expected to
occur on or about December 21, 2012.
In connection with this issuance, BlackRock will post regular portfolio
information for the Fund on its public website at www.blackrock.com.
This information includes fund holdings (which will be available monthly
after a 15-day lag) and asset coverage and leverage ratios (which will
be available weekly).
This press release is neither an offer to sell nor a solicitation of
an offer to buy any of these securities.
BlackRock is a leader in investment management, risk management and
advisory services for institutional and retail clients worldwide. At
September 30, 2012, BlackRock’s AUM was $3.673 trillion. BlackRock
offers products that span the risk spectrum to meet clients’ needs,
including active, enhanced and index strategies across markets and asset
classes. Products are offered in a variety of structures including
separate accounts, mutual funds, iShares®(exchange
traded funds), and other pooled investment vehicles. BlackRock also
offers risk management, advisory and enterprise investment system
services to a broad base of institutional investors through BlackRock
Solutions®. Headquartered in New York City, as of
September 30, 2012, the firm has approximately 10,400 employees in 29
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, please visit BlackRock’s website at www.blackrock.com.
This press release, and other statements that BlackRock or the Fund may
make, may contain forward-looking statements within the meaning of the
Private Securities Litigation Reform Act, with respect to the Fund or
BlackRock’s future financial or business performance, strategies or
expectations. Forward-looking statements are typically identified by
words or phrases such as “trend,” “potential,” “opportunity,”
“pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,”
“intention,” “estimate,” “position,” “assume,” “outlook,” “continue,”
“remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar
expressions, or future or conditional verbs such as “will,” “would,”
“should,” “could,” “may” or similar expressions.
BlackRock cautions that forward-looking statements are subject to
numerous assumptions, risks and uncertainties, which change over time.
Forward-looking statements speak only as of the date they are made, and
BlackRock assumes no duty to and does not undertake to update
forward-looking statements. Actual results could differ materially from
those anticipated in forward-looking statements and future results could
differ materially from historical performance.
With respect to the Fund, the following factors, among others, could
cause actual events to differ materially from forward-looking statements
or historical performance: (1) changes and volatility in political,
economic or industry conditions, the interest rate environment, foreign
exchange rates or financial and capital markets, which could result in
changes in demand for the Fund or in the Fund’s net asset value; (2) the
relative and absolute investment performance of the Fund and its
investments; (3) the impact of increased competition; (4) the
unfavorable resolution of any legal proceedings; (5) the extent and
timing of any distributions or share repurchases; (6) the impact, extent
and timing of technological changes; (7) the impact of legislative and
regulatory actions and reforms, including the Dodd-Frank Wall Street
Reform and Consumer Protection Act, and regulatory, supervisory or
enforcement actions of government agencies relating to the Fund or
BlackRock, as applicable; (8) terrorist activities, international
hostilities and natural disasters, which may adversely affect the
general economy, domestic and local financial and capital markets,
specific industries or BlackRock; (9) BlackRock’s ability to attract and
retain highly talented professionals; (10) the impact of BlackRock
electing to provide support to its products from time to time; and (11)
the impact of problems at other financial institutions or the failure or
negative performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of the Fund
with the Securities and Exchange Commission (“SEC”) are accessible on
the SEC's website at www.sec.govand on BlackRock’s website at www.blackrock.com,
and may discuss these or other factors that affect the Fund. The
information contained on BlackRock’s website is not a part of this press
BlackRock Muni Intermediate Duration Fund, Inc.
Source: BlackRock Advisors, LLC
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