Company: BLE
Filing Date: 2025-09-08
Form Type: DEF 14A
Source: 0001193125-25-198164
Chunk: 14

Company: BLACKROCK MUNICIPAL INCOME TRUST II
Filing Date: 2025-09-08
Form: DEF 14A
Chunk 14
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 to 
 as “high yield” or “junk” bonds.                                                                                                                                                                                                                   |     | The Fund’s investment policies provide that it will invest at least 75% of its total assets in a portfolio of municipal bonds that are commonly referred to as “investment grade” securities, which are obligations                    
 rated at the time of purchase within the four highest quality ratings as determined by either Moody’s, S&P or Fitch. The Fund may invest up to 25% of its total assets in municipal bonds that are rated below Baa by Moody’s or below 
 BBB by S&P or Fitch or, if unrated, are considered by the Investment Advisor to possess similar credit characteristics.                                                                                                                |

Bond Maturity: Below is a comparison of each Fund’s policy with respect to bond maturity.

| BLE                                                                                                                                                                                                                       |     | BYM                                                                                                                                                                                                                       |     | BFK                                                                                                                                                                                                                       |     | MUE                                                                                                                                                                                                                       |     | Acquiring Fund                                                                                                                                                                                                            
 (MHD)                                                                                                                                                                                                                     |
| The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. The Fund’s portfolio at any given time may include 
 both long-term and intermediate-term Municipal Bonds.                                                                                                                                                                     |     | The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. The Fund’s portfolio at any given time may include 
 both long-term and intermediate-term Municipal Bonds.                                                                                                                                                                     |     | The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. The Fund’s portfolio at any given time may include 
 both long-term and intermediate-term Municipal Bonds.                                                                                                                                                                     |     | The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Manager. The Fund’s portfolio at any given time may include long-term, 
 intermediate-term and short-term Municipal Bonds.                                                                                                                                                                         |     | The average maturity of the Fund’s portfolio securities varies from time to time based upon an assessment of economic and market conditions by the Investment Advisor. The Fund’s portfolio at any given time may include 
 both long-term, intermediate-term and short-term municipal bonds.                                                                                                                                                         |

Leverage: Each Fund utilizes leverage through the issuance of VMTP Shares and TOBs. See “The Acquiring Fund’s Investments—Leverage;” “General Risks