Company: BLE
Filing Date: 2025-10-03
Form Type: N-CSR
Source: 0001193125-25-230217
Chunk: 9

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-10-03
Form: N-CSR
Chunk 9
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Rock Municipal Income Trust ’ s ( BFK ) (the “ Fund ”) investment objective is to provide current income exempt from regular U.S. federal income tax. The Fund seeks to achieve its investment objective by investing primarily in municipal bonds 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). The Fund invests, under normal market conditions, at least 80% of its assets in municipal bonds that are investment grade, or if unrated, deemed to be of comparable quality by the investment adviser, at the time of investment. 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 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 ($9.57)(a) |           BFK 
 July 31, 2001 
         6.27% |
|:-------------------------------------------------------------|--------------:|
| Tax Equivalent Yield(b)                                      |        10.59% |
| Current Monthly Distribution per Common Share(c)             |     $0.050000 |
| Current Annualized Distribution per Common                   
 Share(c)                                                     |     $0.600000 |
| 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