BlackRock MuniYield Quality Fund Enters Standstill Agreement with Saba Capital Management

BlackRock MuniYield Quality Fund, Inc. recently announced the signing of a standstill agreement with Saba Capital Management, L.P. The agreement, entered into on January 20, 2025, involves the Investment Advisor, BlackRock Advisors, LLC.

The Standstill Agreement outlines that during its effective period, Saba, the Fund, and the Investment Advisor will adhere to the agreement’s terms. These terms include Saba committing to comply with specific customary standstill covenants. Additionally, Saba has agreed to vote its shares of common stock, if held, following the recommendation of the Fund’s Board of Directors on all matters brought before shareholders.

The Standstill Agreement is expected to remain in force until the day following the Fund’s 2027 annual meeting of shareholders or until August 31, 2027, whichever comes earlier, unless terminated by the involved parties before that time. A detailed copy of the Standstill Agreement is attached as Exhibit 10.1 to the filed report.

Moreover, in compliance with Item 9.01 of the report, the filing disclosed the inclusion of the Standstill Agreement dated January 20, 2025 as Exhibit 10.1 and the Cover Page Interactive Data File (embedded within the Inline XBRL document) as Exhibit 104.

The filing concluded with the appropriate signatures, with BlackRock MuniYield Quality Fund, Inc.’s Janey Ahn signing off as 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 MuniYield Quality Fund’s 8K filing here.

About BlackRock MuniYield Quality Fund

BlackRock MuniYield Quality Fund, Inc is a close ended fixed income mutual fund launched by BlackRock, Inc It is managed by BlackRock Advisors, LLC. The fund invests in fixed income markets. It invests in long-term municipal obligations the interest on which is exempt from federal income taxes. The fund also invests in short-term securities.