BlackRock Enhanced International Dividend Trust Enters Standstill Agreement with Saba Capital Management

Posted by on Jan 27th, 2025

On January 20, 2025, BlackRock Enhanced International Dividend Trust (NYSE:BGY) disclosed in an 8-K filing that it has entered into a standstill agreement with Saba Capital Management, L.P. The agreement involves BlackRock Advisors, LLC, the Investment Advisor of the trust.

The Standstill Agreement, effective immediately, outlines that during the specified period, Saba Capital Management, L.P. will adhere to customary standstill covenants. Additionally, Saba has agreed to vote its common shares of beneficial interest, if held, in alignment with the recommendations put forth by the Fund’s Board of Trustees on all shareholder matters.

This agreement will remain in effect until the day following the conclusion of the Fund’s annual shareholder meeting in 2027 or until August 31, 2027, should the former event occur earlier. However, the parties may decide to terminate the agreement before its stipulated end date.

Further details and terms of the standstill agreement can be referred to in Exhibit 10.1 of the SEC filing.

As of now, BlackRock Enhanced International Dividend Trust has not disclosed any additional financial statements or exhibits related to this agreement.

This report was signed on behalf of BlackRock Enhanced International Dividend Trust by Janey Ahn, the Secretary, on 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 Enhanced International Dividend Trust’s 8K filing here.

About BlackRock Enhanced International Dividend Trust

(Get Free Report)

BlackRock Enhanced International Dividend Trust is a closed ended equity mutual fund launched by BlackRock, Inc The fund is co-managed by BlackRock Advisors, LLC and BlackRock International Limited. It invests in public equity markets across the globe excluding the United States. The fund seeks to invest in stocks of companies operating across diversified sectors.

Read More