BlackRock Core Bond Trust Enters Standstill Agreement with Saba Capital Management, L.P.

On January 20, 2025, BlackRock Core Bond Trust disclosed in an 8-K filing that it, along with BlackRock Advisors, LLC, the Investment Advisor, sealed a standstill agreement with Saba Capital Management, L.P. The said agreement, termed the “Standstill Agreement,” mandates that during its effective period, Saba, the Fund, and the Investment Advisor are bound by its terms.

The key components of the Standstill Agreement include Saba’s commitment to adhere to specific customary standstill covenants and to cast its common shares of beneficial interest, if any, following the Fund’s Board of Trustees’ recommendations on all matters proposed to shareholders. The agreement is slated to remain in force until the day after the Fund’s 2027 annual meeting of shareholders or August 31, 2027, whichever falls earlier, unless the involved parties opt for an earlier termination.

A detailed copy of the Standstill Agreement has been appended as Exhibit 10.1 to the report, thereby being incorporated by reference. Additionally, the filing also includes Exhibit 104 – the Cover Page Interactive Data File embedded within the Inline XBRL document.

BlackRock Core Bond Trust finalized the filing by authenticating it through the signature of Janey Ahn, the company’s 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 Core Bond Trust’s 8K filing here.

BlackRock Core Bond Trust Company Profile

BlackRock Core Bond Trust is a closed-ended fixed income mutual fund launched by BlackRock, Inc The fund is managed by BlackRock Advisors, LLC. It invests in the fixed income markets of the United States. The fund primarily invests in investment grade quality bonds, including corporate bonds, government and agency securities, and mortgage-related securities.