Filed
by BlackRock California Municipal Income Trust II
pursuant
to Rule 425 of the Securities Act of 1933, as amended
and
deemed filed pursuant to Rule 14a-6
under
the Securities and Exchange Act of 1934, as amended
Subject
Company: BlackRock California Municipal Income Trust
Commission
File No. 811-10331
Contact:
1-800-882-0052
Three
BlackRock California Tax-Exempt Closed-End Funds Announce Final Pre-Merger
Distributions
New York, January 5, 2010 –
BlackRock Advisors, LLC announced today that BlackRock California Municipal
Income Trust II (NYSE Amex:BCL), BlackRock California Insured Municipal Income
Trust (NYSE:BCK) and BlackRock California Municipal Bond Trust (NYSE:BZA)
declared final distributions in advance of their reorganizations into BlackRock
California Municipal Income Trust (NYSE:BFZ).
These
final distributions are comprised of the normal monthly distribution amount plus
all undistributed net investment income earned through the effective date of the
merger. In order to comply with distribution requirements under the tax code,
the funds are required to distribute all of their net investment income prior to
the consummation of the merger.
It
is currently expected that the reorganizations will be concluded on or about
January 29, 2010, subject to all regulatory requirements and customary closing
conditions being satisfied, as previously announced on November 30,
2009. Each of these reorganizations will occur based on the relative
net asset values of BCL, BCK, BZA and BFZ.
Distribution
details are as follows:
Declaration
-
1/5/2010
Ex-Date -
1/11/2010 Record
- 1/13/2010Payable -
1/20/2010
|
Fund
Name
|
Ticker
|
Per-Share
Tax-Fee Dividend
|
|
BlackRock
California Municipal Income Trust II
|
BCL
|
$0.318758
|
|
BlackRock
California Insured Municipal Income Trust
|
BCK
|
$0.257669
|
|
BlackRock
California Municipal Bond Trust
|
BZA
|
$0.322612
|
This
communication is not intended to, and shall not, constitute an offer to purchase
or sell shares of any of the BlackRock funds. Investors should consider the
investment objectives, risks, charges and expenses of their fund(s) carefully
and consider in its entirety the Joint Proxy Statement/Prospectus relating to
the reorganizations which contains important information regarding the
investment objectives and policies, risks, charges, expenses and other important
information about BFZ as the combined fund.
About
BlackRock
BlackRock
is a leader in investment management, risk management and advisory services for
institutional and retail clients worldwide. With approximately $3.2
trillion under management as of September 30, 2009 (pro forma), BlackRock offers
products that span the risk spectrum to meet clients’ needs, including active,
enhanced and index strategies across markets and asset
classes. Products are offered in a variety of structures including
separate accounts, mutual funds, iShares®
(exchange traded funds), and other pooled investment vehicles. BlackRock also
offers risk management, advisory and enterprise investment system services to a
broad base of institutional investors through BlackRock Solutions®.
Headquartered in New York City, the firm has over 8,500 employees in 24
countries. For additional information, please visit BlackRock’s website at www.blackrock.com.
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Forward-Looking
Statements
This
press release, and other statements that BlackRock or BCL, BCK, BZA or BFZ
(collectively, the “Funds”) may make, may contain certain forward-looking
statements within the meaning of the Private Securities Litigation Reform Act,
with respect to the future financial or business performance, strategies or
expectations of BlackRock or the Funds. 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 neither BlackRock nor
any of the Funds assumes a duty to or undertakes 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 each Fund, the following factors, among others, could cause actual
events to differ materially from forward-looking statements or historical
performance: (1) changes in political, economic or industry conditions, the
interest rate environment or financial and capital markets, which could result
in changes in the Fund’s net asset value; (2) the performance of the Fund’s
investments; (3) the impact of increased competition; (4) the extent and timing
of any Fund distributions or share repurchases; (5) the impact of legislative
and regulatory actions and reforms and regulatory, supervisory or enforcement
actions of government agencies relating to the Funds or BlackRock, as
applicable; and (6) BlackRock’s ability to attract and retain highly talented
professionals.
The
Annual and Semi-Annual Reports and other regulatory filings of the BlackRock
Closed-End Funds with the Securities and Exchange Commission (“SEC”) are
accessible on the SEC's web site at www.sec.gov and on BlackRock’s
web site at www.blackrock.com, and may
discuss these or other factors that affect the BlackRock Closed-End Funds. The
information contained on our web site is not a part of this press
release.
The
Joint Proxy Statement/Prospectus relating to the proposed reorganization
contains important information and shareholders are urged to read it. Free
copies of the Joint Proxy Statement/Prospectus are available by
calling BlackRock at (800) 882-0052 or on the SEC's web site at www.sec.gov.
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