BlackRock Municipal Income Fund Enters Standstill Agreement with Saba Capital Management

BlackRock Municipal Income Fund, Inc. recently disclosed the signing of a standstill agreement with Saba Capital Management, L.P., and BlackRock Advisors, LLC. The agreement, formalized on January 20, 2025, includes obligations for the Investment Advisor, Saba, and the Fund.

According to the terms, during the standstill agreement’s duration, Saba will adhere to specific standard standstill provisions. Additionally, Saba has consented to casting its common stock votes, if applicable, following the Fund’s Board of Directors’ recommendations on all shareholder-related matters. The pact will be active until the day post the Fund’s 2027 annual shareholder meeting or August 31, 2027, with the possibility of an earlier termination by mutual agreement.

A detailed account of the Standstill Agreement is available as Exhibit 10.1 in the corresponding report and is incorporated by reference. Furthermore, the company revealed that the agreement includes Exhibit 104, a Cover Page Interactive Data File embedded within the Inline XBRL document.

In compliance with Section 13 of the Securities Exchange Act of 1934, BlackRock Municipal Income Fund, Inc. has duly authorized the filing of this report, as evident by Secretary Janey Ahn’s signature, dated January 21, 2025.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read BlackRock Municipal Income Fund’s 8K filing here.

About BlackRock Municipal Income Fund

BlackRock Muni Intermediate Duration Fund, Inc is a closed ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It primarily invests in investment grade municipal bonds exempt from federal income taxes and with a duration of three to ten years at the time of investment.