Company: BLE
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230217
Chunk: 6

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-10-03
Form: N-CSR
Chunk 6
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 capital. The Fund seeks to achieve its investment objective by investing at least 80% of its assets in municipal obligations that pay interest that is exempt from U.S. federal income taxes (except that the interest may be subject to the U.S. federal alternative minimum tax). Under normal market conditions, the Fund invests at least 80% of its assets in securities rated investment grade at the time of investment. The Fund may invest up to 20% of its assets in unrated securities that are deemed by the investment adviser to be of comparable quality. The Fund may invest directly in such securities or synthetically through the use of derivatives. No assurance can be given that the Fund’s investment objective will be achieved. On January 20, 2025, the Board of Directors of each of BlackRock Investment Quality Municipal Trust, Inc. (BKN), BlackRock MuniYield Quality Fund II, Inc. (MQT) and BlackRock MuniYield Fund, Inc. (MYD) and the Board of Directors of BlackRock MuniYield Quality Fund, Inc. (MQY) each approved the reorganization of BKN, MQT and MYD into MQY, with MQY continuing as the surviving Fund. On June 6, 2025, the Board of Trustees of each of BlackRock Virginia Municipal Bond Trust (BHV) and BlackRock MuniYield Pennsylvania Quality Fund (MPA) and the Board of Directors of MQY approved the reorganization of BHV and MPA into MQY, with MQY continuing as the surviving Fund. Subject to the requisite approvals by each Fund’s respective common and preferred shareholders and the satisfaction of customary closing conditions, the reorganizations are expected to occur in the fourth quarter of 2025. Fund Information

| Symbol on New York Stock Exchange                             
 Initial Offering Date                                         
 Yield on Closing Market Price as of July 31, 2025 ($10.63)(a) |               BKN 
 February 28, 1993 
             6.43% |
|:--------------------------------------------------------------|------------------:|
| Tax Equivalent Yield(b)                                       |            10.86% |
| Current Monthly Distribution per Common Share(c)              |         $0.057000 |
| Current Annualized Distribution per Common                    
 Share(c)                                                      |         $0.684000 |
| Leverage as of July 31, 2025(d)                               |               41% |

| (a) | Yield on closing market price is calculated