NEW YORK--(BUSINESS WIRE)--BlackRock Advisors, LLC announced additional details related to the liquidation of BlackRock 2022 Global Income Opportunity Trust (NYSE: BGIO, CUSIP: 09258P104) (the “Fund”).
On December 28, 2021, the Fund will distribute to common shareholders $2.5867 per share in a cash liquidation distribution. In addition, for every 1 common share held of BGIO shareholders will receive 1 share of the BGIO Liquidating Trust (CUSIP: 09258P203) (the “Liquidating Trust”) with a fair value of $0.0422 per share of the Fund’s common shares. The liquidating distribution plus the Liquidating Trust represents substantially all of the Fund’s net assets at the time of liquidation. In accordance with the Fund's Plan of Liquidation, the Fund entered into a liquidating trust agreement for the purpose of completing the final wind-up of the Fund's affairs and liquidation of its assets.
Distribution summary
Since the adoption of its plan of liquidation on June 30th, 2021, BGIO has declared a total of $9.2371 per share in liquidating distributions, including the $0.05 regular monthly distribution per share:
Pay Date |
Regular
|
Special Distribution |
Total Liquidating
|
7/30/2021 |
$0.05 |
$1.105700 |
$1.155700 |
8/31/2021 |
$0.05 |
$1.343000 |
$1.393000 |
9/30/2021 |
$0.05 |
$1.490200 |
$1.540200 |
10/29/2021 |
$0.05 |
$0.444100 |
$0.494100 |
11/30/2021 |
$0.05 |
$2.017400 |
$2.067400 |
12/28/2021 |
- |
$2.586700 |
$2.586700 |
|
Total Liquidating Distributions: |
$9.237100 |
|
All liquidating distributions paid after the date of the adoption of the plan of liquidation (June 30th) are return of capital distributions which lower an investor’s cost basis in the shares of the fund – see July/August Form 8937 , September Form 8937, October Form 8937, and November Form 8937 for additional detail.
BGIO has delivered an annualized total return of 4.9% on net asset value since inception through November 30, 2021. The fund has paid $11.82 per share in distributions since inception (including liquidating distributions).
Shareholders may recognize gain or loss for U.S. tax purposes as a result of the liquidation. Gain or loss will generally be measured as the difference between the sum of the cash liquidation distribution and fair value of the equity interest in the Liquidating Trust received, and the shareholders tax basis in the shares of the Fund. BlackRock does not provide tax advice and investors should consult their individual tax adviser regarding the tax treatment applicable to a liquidating distribution and any other payments received in connection with the liquidation. Shareholders should consult their tax advisor concerning the application of this information.
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Availability of Fund Updates
BlackRock will update performance and certain other data for the Funds on a monthly basis on its website in the “Closed-end Funds” section of www.blackrock.com as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Funds. This reference to BlackRock’s website is intended to allow investors public access to information regarding the Funds and does not, and is not intended to, incorporate BlackRock’s website in this release.
Forward-Looking Statements
This press release, and other statements that BlackRock or a Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to a Fund’s or BlackRock’s future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as “trend,” “potential,” “opportunity,” “pipeline,” “believe,” “comfortable,” “expect,” “anticipate,” “current,” “intention,” “estimate,” “position,” “assume,” “outlook,” “continue,” “remain,” “maintain,” “sustain,” “seek,” “achieve,” and similar expressions, or future or conditional verbs such as “will,” “would,” “should,” “could,” “may” or similar expressions.
BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance.
With respect to the Funds, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Funds or in a Fund’s net asset value; (2) the relative and absolute investment performance of a Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, including the Dodd-Frank Wall Street Reform and Consumer Protection Act, and regulatory, supervisory or enforcement actions of government agencies relating to a Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock’s ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions.
Annual and Semi-Annual Reports and other regulatory filings of the Funds with the Securities and Exchange Commission (“SEC”) are accessible on the SEC's website at www.sec.gov and on BlackRock’s website at www.blackrock.com, and may discuss these or other factors that affect the Funds. The information contained on BlackRock’s website is not a part of this press release.