BlackRock Announces Board Approval of Fund Reorganizations

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BlackRock Advisors, LLC announced today that the Board of Directors/Trustees of each of BlackRock Senior Floating Rate Fund, Inc. (XMPFX), BlackRock Senior Floating Rate Fund II, Inc. (XMPCX) and BlackRock Funds II approved the reorganizations of BlackRock Senior Floating Rate Fund, Inc. and BlackRock Senior Floating Rate Fund II, Inc. into the BlackRock Floating Rate Income Portfolio, a series of BlackRock Funds II, with the BlackRock Floating Rate Income Portfolio being the surviving fund (the “Reorganizations”). If approved by shareholders, it is currently expected that each Reorganization would be completed in the first quarter of 2011, subject to regulatory requirements and customary closing conditions being satisfied. In connection with the Reorganizations, the Board of Directors of Master Senior Floating Rate LLC approved the liquidation and dissolution of Master Senior Floating Rate LLC and the distribution of its assets to the funds in the event one or both of the Reorganizations are approved by shareholders.
Posted In: Management
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