Company: BLE
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230217
Chunk: 12

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-10-03
Form: N-CSR
Chunk 12
---
 The Fund seeks to achieve its investment objective by investing primarily in municipal bonds exempt from U.S. federal income taxes (except that the interest may be subject to the U.S. federal alternative minimum tax). The Fund invests, under normal market conditions, at least 80% of its managed assets in municipal bonds that are investment grade quality at the time of investment or, if unrated, determined to be of comparable quality by the investment adviser at the time of investment. The Fund may invest directly in 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 Trustees of BlackRock Municipal Income Trust (BFK), BlackRock Municipal Income Quality Trust (BYM) and BlackRock Municipal Income Trust II (BLE) and the Board of Directors of BlackRock MuniHoldings Fund, Inc. (MHD) approved the reorganization of BFK, BYM and BLE into MHD, with MHD continuing as the surviving Fund. On June 6, 2025, the Board of Directors of BlackRock MuniHoldings Quality Fund II, Inc. (MUE) and the Board of Directors of MHD approved the reorganization of MUE into MHD, with MHD 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 ($9.82)(a) |           BLE 
 July 30, 2002 
         6.60% |
|:-------------------------------------------------------------|--------------:|
| Tax Equivalent Yield(b)                                      |        11.15% |
| Current Monthly Distribution per Common Share(c)             |     $0.054000 |
| Current Annualized Distribution per Common                   
 Share(c)                                                     |     $0.648000 |
| Leverage as of July 31, 2025(d)                              |           41% |

| (a) | Yield on closing market price is calculated by dividing the current annualized distribution per share by the closing market price. Past performance is not an indication                                                                                            
 of future results.                                                                                                                                                                                                                                                  |
| (b) | Tax equivalent yield assumes the maximum marginal U.S. federal tax rate of 40.8