Company: BLE
Filing Date: 2025-01-21
Form Type: 425
Source: 0001193125-25-009606
Chunk: 0

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-01-21
Form: 425
Chunk 0
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Filed by BlackRock MuniHoldings Fund, Inc.

pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: BlackRock Municipal Income Trust II

Investment Company Act File No.: 811-21126

Date: January 21, 2025

Contact:

1-800-882-0052

BlackRock Announces Board Approval of Closed-EndFund Reorganizations

New York, January21, 2025 –BlackRock Advisors, LLC announced today that each of the Boards of Directors/Trustees of each of
the closed-end funds named below (each, a “Fund” and collectively, the “Funds”) has approved the following reorganizations (each, a “Reorganization” and collectively, the
“Reorganizations), as applicable:

| • |     | BlackRock Municipal Income Trust II (NYSE: BLE), BlackRock Municipal Income Quality Trust (NYSE: BYM) and                                  
 BlackRock Municipal Income Trust (NYSE: BFK) into BlackRock MuniHoldings Fund, Inc. (NYSE: MHD) with MHD continuing as the surviving Fund; |

| • |     | BlackRock Investment Quality Municipal Trust, Inc. (NYSE: BKN), BlackRock MuniYield Quality Fund II, Inc. (NYSE:                                            
 MQT) and BlackRock MuniYield Fund, Inc. (NYSE: MYD) into BlackRock MuniYield Quality Fund, Inc. (NYSE: MQY), with MQY continuing as the surviving Fund; and |

| • |     | BlackRock Long-Term Municipal Advantage Trust (NYSE: BTA) into BlackRock MuniAssets Fund, Inc. (NYSE: MUA), with 
 MUA continuing as the surviving Fund.                                                                            |

“We believe that these reorganizations have the potential to provide a number of benefits to
Fund shareholders, including the potential for lower expenses, increased income, a higher after-tax yield and improved secondary market trading, as applicable,” said R. Glenn Hubbard, Chair of the Boards
of BlackRock Closed-End Funds.

It is currently expected that the Reorganizations will be completed in the third
quarter of 2025, subject to the requisite approvals by each Fund’s respective common and preferred shareholders and the satisfaction of customary closing conditions.

Additional Information about the Reorganizations and Where to Find It

This press release is not intended to