{"id":385702,"date":"2020-11-19T17:03:25","date_gmt":"2020-11-19T22:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=385702"},"modified":"2020-11-19T17:03:25","modified_gmt":"2020-11-19T22:03:25","slug":"blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\/","title":{"rendered":"BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination"},"content":{"rendered":"<p>        <!--.bwalignc { text-align: center; list-style-position: inside }body {font:normal small Arial,Helvetica,sans-serif;color:#000;background-color:#fff;padding:24px;margin:0;} a img {border:0;} h3 {font-size:medium;color:#000;margin:0 0 1em 0; text-align:center;}-->  <\/p>\n<p class=\"bwalignc\"><b>BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination<\/b><\/p>\n<p>NEW YORK&#8211;(<a href=\"http:\/\/www.businesswire.com\">BUSINESS WIRE<\/a>)&#8211;<br \/>\nBlackRock Advisors, LLC announced today that the Board of each of BlackRock Florida Municipal 2020 Term Trust (NYSE:BFO, CUSIP: 09250M109) and BlackRock Municipal 2020 Term Trust (NYSE:BKK, CUSIP: 09249X109) (each, a \u201cFund\u201d and together, the \u201cFunds\u201d) approved the adoption of a Plan of Termination. Under each Fund&#8217;s Plan of Termination, which is effective as of November 19, 2020, the Fund will begin the process of liquidating portfolio assets and unwinding its affairs. Each Fund expects to make a final liquidating distribution or transfer any remaining assets into a liquidation trust, if necessary, on or around December 23, 2020.\n<\/p>\n<p>\nUpon the effectiveness of each Fund\u2019s Plan of Termination, the Automatic Dividend Reinvestment Plan of each Fund has been suspended with respect to any dividends or distributions for which the record date is on or after November 19, 2020. All such dividends or distributions will be paid in cash.\n<\/p>\n<p>\nAn investment objective for each Fund is to return $15.00 per common share (the initial public offering price per common share) to holders of common shares on or about December 31, 2020. As of the close of business on November 18, 2020, BFO\u2019s and BKK\u2019s net asset value (&#8220;NAV&#8221;) per share was $14.81 and $15.08, respectively. BFO will not achieve its investment objective of returning $15.00 per common share on or about December 31, 2020. There is no assurance that BKK will achieve its investment objective of returning $15.00 per common share on or about December 31, 2020. Each Fund&#8217;s daily NAV can be found at <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.blackrock.com&amp;esheet=52332723&amp;newsitemid=20201119006260&amp;lan=en-US&amp;anchor=www.blackrock.com&amp;index=1&amp;md5=b16c191c534104b22fef56b91bb2ccdf\">www.blackrock.com<\/a>.\n<\/p>\n<p>\nEach Fund\u2019s common shares will continue to trade the \u201cregular way\u201d on the New York Stock Exchange through December 14, 2020 and will be suspended from trading before the opening on December 15, 2020.\n<\/p>\n<p><b>About BlackRock <\/b><\/p>\n<p>\nBlackRock\u2019s purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, our clients turn to us for the solutions they need when planning for their most important goals. As of September 30, 2020, the firm managed approximately $7.81 trillion in assets on behalf of investors worldwide. For additional information on BlackRock, please visit <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.blackrock.com&amp;esheet=52332723&amp;newsitemid=20201119006260&amp;lan=en-US&amp;anchor=www.blackrock.com&amp;index=2&amp;md5=3a6c6bc5333cda52157807c9ad25a687\">www.blackrock.com<\/a> | Twitter: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=https%3A%2F%2Ftwitter.com%2Fblackrock&amp;esheet=52332723&amp;newsitemid=20201119006260&amp;lan=en-US&amp;anchor=%40blackrock&amp;index=3&amp;md5=af4901356807e6cbe3bd9630a1416339\">@blackrock<\/a> | Blog: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.blackrockblog.com&amp;esheet=52332723&amp;newsitemid=20201119006260&amp;lan=en-US&amp;anchor=www.blackrockblog.com&amp;index=4&amp;md5=43df2fc31d76fe2f6699d4c6a1987dbf\">www.blackrockblog.com<\/a> | LinkedIn: <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.linkedin.com%2Fcompany%2Fblackrock&amp;esheet=52332723&amp;newsitemid=20201119006260&amp;lan=en-US&amp;anchor=www.linkedin.com%2Fcompany%2Fblackrock&amp;index=5&amp;md5=defb7c6c75dc66d13e3ec1af08a16a9b\">www.linkedin.com\/company\/blackrock<\/a><\/p>\n<p><b>Availability of Fund Updates <\/b><\/p>\n<p>\nBlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the \u201cClosed-end Funds\u201d section of <a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.blackrock.com&amp;esheet=52332723&amp;newsitemid=20201119006260&amp;lan=en-US&amp;anchor=www.blackrock.com&amp;index=6&amp;md5=bba1ced3588560d40dcea119a804b7ff\">www.blackrock.com<\/a> as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock\u2019s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock\u2019s website in this release.\n<\/p>\n<p><b>Forward-Looking Statements <\/b><\/p>\n<p>\nThis press release, and other statements that BlackRock or the Funds may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund\u2019s or BlackRock\u2019s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as \u201ctrend,\u201d \u201cpotential,\u201d \u201copportunity,\u201d \u201cpipeline,\u201d \u201cbelieve,\u201d \u201ccomfortable,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201ccurrent,\u201d \u201cintention,\u201d \u201cestimate,\u201d \u201cposition,\u201d \u201cassume,\u201d \u201coutlook,\u201d \u201ccontinue,\u201d \u201cremain,\u201d \u201cmaintain,\u201d \u201csustain,\u201d \u201cseek,\u201d \u201cachieve,\u201d and similar expressions, or future or conditional verbs such as \u201cwill,\u201d \u201cwould,\u201d \u201cshould,\u201d \u201ccould,\u201d \u201cmay\u201d or similar expressions.\n<\/p>\n<p>\nBlackRock 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.\n<\/p>\n<p>\nWith respect to the Funds, 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 a Fund or in a Fund\u2019s net asset value; (2) the relative and absolute investment performance of a 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 a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and\/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock\u2019s 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.\n<\/p>\n<p>\nAnnual and Semi-Annual Reports and other regulatory filings of the Funds with the SEC are accessible on the SEC\u2019s website at<b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.sec.gov&amp;esheet=52332723&amp;newsitemid=20201119006260&amp;lan=en-US&amp;anchor=www.sec.gov&amp;index=7&amp;md5=0a7f2d117e23ec2c56a686badecfca03\">www.sec.gov<\/a><\/b> and on BlackRock\u2019s website at <b><a rel=\"nofollow\" href=\"https:\/\/cts.businesswire.com\/ct\/CT?id=smartlink&amp;url=http%3A%2F%2Fwww.blackrock.com&amp;esheet=52332723&amp;newsitemid=20201119006260&amp;lan=en-US&amp;anchor=www.blackrock.com&amp;index=8&amp;md5=9e3fcb6715fb0b61596c2f3e264de127\">www.blackrock.com<\/a><\/b>, and may discuss these or other factors that affect the Funds. The information contained on BlackRock\u2019s website is not a part of this press release.\n<\/p>\n<p><img decoding=\"async\" alt=\"\" src=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201119006260r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" style=\"width:0;height:0\" \/><span class=\"bwct31415\" \/><\/p>\n<p id=\"mmgallerylink\"><span id=\"mmgallerylink-phrase\">View source version on businesswire.com: <\/span><span id=\"mmgallerylink-link\"><a href=\"https:\/\/www.businesswire.com\/news\/home\/20201119006260\/en\/\" rel=\"nofollow\">https:\/\/www.businesswire.com\/news\/home\/20201119006260\/en\/<\/a><\/span><\/p>\n<p><b>1-800-882-0052<\/b><\/p>\n<p><b>KEYWORDS:<\/b> New York United States North America<\/p>\n<p><b>INDUSTRY KEYWORDS:<\/b> Banking Professional Services Finance<\/p>\n<p><b>MEDIA:<\/b><\/p>\n<table cellpadding=\"3\" cellspacing=\"3\" \/>\n","protected":false},"excerpt":{"rendered":"<p>BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination NEW YORK&#8211;(BUSINESS WIRE)&#8211; BlackRock Advisors, LLC announced today that the Board of each of BlackRock Florida Municipal 2020 Term Trust (NYSE:BFO, CUSIP: 09250M109) and BlackRock Municipal 2020 Term Trust (NYSE:BKK, CUSIP: 09249X109) (each, a \u201cFund\u201d and together, the \u201cFunds\u201d) approved the adoption of a Plan of Termination. Under each Fund&#8217;s Plan of Termination, which is effective as of November 19, 2020, the Fund will begin the process of liquidating portfolio assets and unwinding its affairs. Each Fund expects to make a final liquidating distribution or transfer any remaining assets into a liquidation trust, if necessary, on or around December 23, 2020. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-385702","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination NEW YORK&#8211;(BUSINESS WIRE)&#8211; BlackRock Advisors, LLC announced today that the Board of each of BlackRock Florida Municipal 2020 Term Trust (NYSE:BFO, CUSIP: 09250M109) and BlackRock Municipal 2020 Term Trust (NYSE:BKK, CUSIP: 09249X109) (each, a \u201cFund\u201d and together, the \u201cFunds\u201d) approved the adoption of a Plan of Termination. Under each Fund&#8217;s Plan of Termination, which is effective as of November 19, 2020, the Fund will begin the process of liquidating portfolio assets and unwinding its affairs. Each Fund expects to make a final liquidating distribution or transfer any remaining assets into a liquidation trust, if necessary, on or around December 23, 2020. &hellip; Continue reading &quot;BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-11-19T22:03:25+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201119006260r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"5 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"BlackRock Florida Municipal 2020 Term Trust &amp; 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BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\/","og_locale":"en_US","og_type":"article","og_title":"BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination - Market Newsdesk","og_description":"BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination NEW YORK&#8211;(BUSINESS WIRE)&#8211; BlackRock Advisors, LLC announced today that the Board of each of BlackRock Florida Municipal 2020 Term Trust (NYSE:BFO, CUSIP: 09250M109) and BlackRock Municipal 2020 Term Trust (NYSE:BKK, CUSIP: 09249X109) (each, a \u201cFund\u201d and together, the \u201cFunds\u201d) approved the adoption of a Plan of Termination. Under each Fund&#8217;s Plan of Termination, which is effective as of November 19, 2020, the Fund will begin the process of liquidating portfolio assets and unwinding its affairs. Each Fund expects to make a final liquidating distribution or transfer any remaining assets into a liquidation trust, if necessary, on or around December 23, 2020. &hellip; Continue reading \"BlackRock Florida Municipal 2020 Term Trust &amp; BlackRock Municipal 2020 Term Trust: Announcement of Adoption of Plan of Termination\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\/","og_site_name":"Market Newsdesk","article_published_time":"2020-11-19T22:03:25+00:00","og_image":[{"url":"https:\/\/cts.businesswire.com\/ct\/CT?id=bwnews&amp;sty=20201119006260r1&amp;sid=flmnd&amp;distro=nx&amp;lang=en","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"5 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/blackrock-florida-municipal-2020-term-trust-blackrock-municipal-2020-term-trust-announcement-of-adoption-of-plan-of-termination\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"BlackRock Florida Municipal 2020 Term Trust &amp; 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