Company: BLE
Filing Date: 2025-08-07
Form Type: PRE 14A
Source: 0001193125-25-175555
Chunk: 13

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-08-07
Form: PRE 14A
Chunk 13
---
 Fund’s investment policies provide that, at all times, except during temporary defensive periods, it will invest at least 80% of its total assets in                    
 a portfolio of obligations issued by or on behalf of states, territories and possessions of the United States and their political subdivisions, agencies or instrumentalities, paying interest that, in the opinion of bond counsel to the issuer, is 
 exempt from federal income taxes (“Municipal Bonds”). The Fund may invest directly in securities or synthetically through the use of derivatives. The Fund’s investment policies provide that, under normal market conditions, the Fund               
 invests at least 80% of its total assets in Municipal Bonds with remaining maturities of one year or more at the time of investment.                                                                                                                  |     | and the proceeds of any borrowings for investment purposes, in a portfolio of municipal obligations issued by or on behalf of states, territories and possessions of the United States and their political subdivisions, agencies or                 
 instrumentalities, each of which pays interest that, in the opinion of bond counsel to the issuer, is excludable from gross income for federal income tax purposes (except that the interest may be includable in taxable income for purposes of the 
 federal alternative minimum tax).                                                                                                                                                                                                                    |

Investment Grade and Non-InvestmentGrade Securities: Below is a comparison of each Fund’s policy with respect to investment in investment grade quality securities and non-investmentgrade quality securities. Investment grade quality means that such bonds are rated, at the time of investment, within the four highest grades (Baa or BBB or better by Moody’s Investor Service, Inc. (“Moody’s”), S&P Global Ratings (“S&P) or Fitch Ratings (“Fitch”)) or are unrated but judged to be of comparable quality by the Investment Advisor. Below investment grade quality means securities rated at the time of purchase Ba or below by Moody’s, BB or below by S&P or Fitch, or securities vi

determined by the Investment Advisor to be of comparable quality. Below investment grade quality is regarded as predominantly speculative with respect to the issuer’s capacity to pay interest and repay principal. Such securities commonly are referred to as “high yield” or “junk” bonds.

| BLE                                                                                                                                                                                                                             |     | BYM                                                                                                                                                                                                                                   |     | BFK                                                                                                                                                                                                                                                   |     | MUE                                                                                                                                                                                                                                                |     | Acquiring Fund                                                                                                                                                                                                                          |
|                                                                                                                                                                                                                                 |     |                                                                                                                                                                                                                                       |     |                                                                                                                                                                                                                                                       |     |                                                                                                                                                                                                                                                    |     | -