BlackRock 2037 Municipal Target Term Trust Enters Into Standstill Agreement with Saba Capital Management, L.P.

On January 20, 2025, BlackRock 2037 Municipal Target Term Trust, in conjunction with BlackRock Advisors, LLC, the Investment Advisor, has signed a standstill agreement with Saba Capital Management, L.P. The Standstill Agreement stipulates that during its effective duration, Saba, the Fund, and the Investment Advisor will adhere to the terms outlined within the agreement.

These terms include an agreement by Saba to comply with specific customary standstill covenants and to cast its common shares of beneficial interest, if applicable, following the recommendation of the Fund’s Board of Trustees on all matters put forth to shareholders. The Standstill Agreement will persist until the day following the conclusion of the Fund’s 2027 annual meeting of shareholders or August 31, 2027, whichever occurs first, unless the involved parties opt to end the agreement prematurely.

Included as Exhibit 10.1 to this report is a copy of the Standstill Agreement, which is integrated by reference herein.

Additionally, pursuant to Item 9.01, the report includes financial statements and exhibits, with Exhibit 10.1 highlighting the Standstill Agreement dated January 20, 2025, and Exhibit 104 comprising the Cover Page Interactive Data File, embedded within the Inline XBRL document.

Per the requirements of the Securities Exchange Act of 1934, the official signing of this report was performed on January 21, 2025, by Janey Ahn, serving as the Secretary for BlackRock 2037 Municipal Target Term Trust.

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Blackrock 2037 Municipal Target Term Trust’s 8K filing here.

Blackrock 2037 Municipal Target Term Trust Company Profile

Blackrock 2037 Municipal Target Term Trust is an close-ended fixed income mutual fund launched by Blackrock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in fixed income markets. The fund primarily invests in n investment grade municipal securities that are rated BBB- or above by S&P and Fitch or Baa3 or above by Moody's.