Company: BLE
Filing Date: 2025-04-07
Form Type: N-CSRS
Source: 0001193125-25-074469
Chunk: 61

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-04-07
Form: N-CSRS
Chunk 61
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 constant. See Additional Information - Shelf Offering Program for additional information.

Initial costs incurred by BKN and BFK in connection with their Shelf Offerings are recorded as “Deferred offering costs” in the Statements of Assets and Liabilities. As shares are sold, a portion of the costs attributable to the shares sold will be charged against paid-in-capital. Any remaining deferred charges at the end of the Shelf Offering period will be charged to expense.

MVF adopted a discount management program (the “Program”) that is comprised of six 3-month measurement periods, expiring with the measurement period ending September 30, 2025, unless continued by the Board. Under the Program, the Fund intends to offer to repurchase a portion of its common shares via tender offer if the Fund’s common shares trade at an average daily discount to NAV of more than 7.5% during a 3-month measurement period. The Board approved the Fund offering to repurchase 2.5% of its outstanding common shares for the first measurement period, which began on April 1, 2024 and ended on June 30, 2024, the second measurement period, which began on July 1, 2024 and ended on September 30, 2024, and the third measurement period, which began on October 1, 2024 and ended on December 31, 2024 as the discount trigger was met. The results of the fourth through sixth measurement periods, and any action approved by the Board as a result, will be announced promptly after the end of each applicable measurement period. There is no guarantee that shareholders will be able to sell all of the shares that they desire to sell in any particular tender offer that is executed and there can be no assurance as to the effect that the Program will have on the market for the Fund’s shares or the discount at which the Fund’s shares may trade relative to its NAV.

As a result of the discount trigger being met during the first, second and third measurement periods, the Fund conducted a tender offer for 2.5% of its outstanding common shares, at a price equal to 98% of the NAV per share, determined on the business day after the tender offer expired.

The results of the tender offers were as follows:

| CommencementDate of TenderOffer Period(a) | ValuationDate | Number of SharesTendered | Tendered Sharesas a Percentage ofOutstanding Shares | Number of TenderedSharesPurchased | Tendered SharesPurchasedas a Percentage ofOut