News Column

Certain BlackRock Closed-End Funds Establish At-The-Market Equity Shelf Programs

June 28, 2014

By a News Reporter-Staff News Editor at Investment Weekly News -- BlackRock Advisors, LLC announced that BlackRock Corporate High Yield Fund, Inc. (NYSE:HYT) and BlackRock Debt Strategies Fund, Inc. (NYSE:DSU) (the "Funds") have each filed an initial registration statement to establish an at-the-market equity shelf program (each, a "Program"). The Programs may provide each Fund's portfolio managers with additional flexibility in pursuing attractive investment opportunities without the need to sell existing portfolio investments. Under each Program, the Fund, subject to market conditions, may raise additional equity capital by issuing new common shares, from time to time in varying amounts, at a net price at or above the Fund's net asset value per common share plus the per share amount of any commission.

Each Fund has filed a registration statement with the Securities and Exchange Commission relating to its Program, which is not yet effective. The information contained in the Fund's preliminary prospectus within the registration statement is not complete and may be changed. The Fund may not sell any common shares under the Program until its registration statement is effective. Neither this press release nor the Fund's preliminary prospectus is an offer to sell newly registered common shares and neither this press release nor the Fund's preliminary prospectus is soliciting an offer to buy newly registered common shares in any jurisdiction where such offer or sale is not permitted.

Keywords for this news article include: Investment and Finance, BlackRock Closed-End Funds.

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Source: Investment Weekly News

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