BlackRock Virginia Municipal Bond Trust Enters Standstill Agreement with Saba Capital Management

On January 20, 2025, BlackRock Virginia Municipal Bond Trust, in conjunction with BlackRock Advisors, LLC (the “Investment Advisor”), finalized a standstill agreement (the “Standstill Agreement”) with Saba Capital Management, L.P. (“Saba”), according to an 8-K filing. Under the terms of the Standstill Agreement, Saba, the Fund, and the Investment Advisor committed to uphold the stipulations of the agreement during its effective period.

The key elements of the Standstill Agreement include Saba’s commitment to adhere to certain customary standstill covenants and to cast its common shares of beneficial interest, if any, following the Fund’s Board of Trustees’ guidance on all matters presented to shareholders. The Standstill Agreement is slated to remain valid until the day succeeding the conclusion of the Fund’s 2027 annual meeting of shareholders or August 31, 2027, whichever occurs first, unless earlier terminated by the parties involved.

Included as Exhibit 10.1 within the report, a copy of the Standstill Agreement has been encapsulated and referred to for further examination. Additionally, in compliance with reporting requirements, the filing acknowledges that there will be an embedded Cover Page Interactive Data File (within the Inline XBRL document).

Looking into the financial aspects, the report confirms no specific financial statements have been disclosed in relation to this event.

This important disclosure was announced through a filing with the Securities and Exchange Commission, duly conveying the binding agreement between the involved parties, marking a significant move in the dynamics of BlackRock Virginia Municipal Bond Trust’s operations.

The report was signed and authorized by Janey Ahn, Secretary of BlackRock Virginia Municipal Bond Trust, on January 21, 2025, in accordance with the necessary regulations outlined by the Securities Exchange Act of 1934.

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

BlackRock Virginia Municipal Bond Trust Company Profile

Blackrock Virginia Municipal Bond Trust 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 of United States. It primarily invests in the investment grade municipal bonds exempt from federal income taxes and Virginia personal income taxes.