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Business Wire
11 hours ago
- Business
- Business Wire
BlackRock Core Bond Trust (BHK) Announces Results of its Over-subscribed Rights Offering
NEW YORK--(BUSINESS WIRE)--BlackRock Core Bond Trust (NYSE: BHK) (the "Fund") today announced the successful completion of its transferable rights offer (the 'Offer') which expired on June 18, 2025 (the 'Expiration Date'). The Offer entitled rights holders to subscribe for up to an aggregate of 18,056,056 shares of the Fund's common shares of beneficial interest, par value of $0.001 per share (each, a 'Common Share'). The final subscription price of $9.22 per Common Share was determined based upon the formula equal to 95% of the average of the last reported sales price per Common Share on the New York Stock Exchange (the "NYSE") on the Expiration Date and each of the four (4) immediately preceding trading days. "We are very pleased with the results of the BHK rights offering. We continue to see resilient fundamentals in the market, attractive yields, and the potential for lower financing costs in the coming quarters, increasing income to our shareholders." As a result of high investor demand, the Offer was over-subscribed, and the Fund will exercise the over-subscription privilege. Pursuant to the over-subscription privilege, shareholders of the Fund as of May 27, 2025 (the 'Record Date') who fully exercised all rights issued to them were able to subscribe at the price indicated above, subject to certain limitations and allotment, for any additional Common Shares which were not subscribed for by other holders of rights. The shares subscribed for pursuant to the over-subscription privilege of the Offer will be allocated pro-rata among those fully exercising Record Date shareholders who over-subscribed based on the number of rights originally issued to them by the Fund. The Fund will return to those investors that submitted over-subscription requests the full amount of their excess payments as soon as practicable. "We are very pleased with the results of the BHK rights offering. We continue to see resilient fundamentals in the market, attractive yields, and the potential for lower financing costs in the coming quarters, increasing income to our shareholders. We look forward to putting more cash to work and to continue seeking to provide stable monthly income for our shareholders.' – Scott MacLellan, Portfolio Manager for the Fund. The Offer is expected to result in the issuance of more than 18.0 million Common Shares (including Common Shares subscribed pursuant to the over-subscription privilege and notices of guaranteed delivery), resulting in anticipated proceeds to the Fund of approximately $166 million. The Fund will receive the entire proceeds of the Offer since BlackRock Advisors, LLC, the Fund's investment adviser, has agreed to pay all expenses related to the Offer. The Fund intends to invest the proceeds of the Offer in accordance with its investment objective and policies. Shares issued pursuant to the Offer will be entitled to receive the monthly distribution expected to be payable in July. The information in this press release is not complete and is subject to change. This document is not an offer to sell any securities and is not soliciting an offer to buy any securities in any jurisdiction where the offer or sale is not permitted. This document is not an offering, which can only be made by a prospectus. Investors should consider the Fund's investment objective, risks, charges and expenses carefully before investing. The Fund's prospectus supplement and accompanying prospectus will contain this and additional information about the Fund and additional information about the Offer, and should be read carefully before investing. About BlackRock BlackRock's purpose is to help more and more people experience financial well-being. As a fiduciary to investors and a leading provider of financial technology, we help millions of people build savings that serve them throughout their lives by making investing easier and more affordable. For additional information on BlackRock, please visit Availability of Fund Updates BlackRock will update performance and certain other data for the Fund on a monthly basis on its website in the 'Closed-end Funds' section of as well as certain other material information as necessary from time to time. Investors and others are advised to check the website for updated performance information and the release of other material information about the Fund. This reference to BlackRock's website is intended to allow investors public access to information regarding the Fund and does not, and is not intended to, incorporate BlackRock's website in this release. Forward-Looking Statements This press release, and other statements that BlackRock or the Fund may make, may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, with respect to the Fund's or BlackRock's future financial or business performance, strategies or expectations. Forward-looking statements are typically identified by words or phrases such as 'trend,' 'potential,' 'opportunity,' 'pipeline,' 'believe,' 'comfortable,' 'expect,' 'anticipate,' 'current,' 'intention,' 'estimate,' 'position,' 'assume,' 'outlook,' 'continue,' 'remain,' 'maintain,' 'sustain,' 'seek,' 'achieve,' and similar expressions, or future or conditional verbs such as 'will,' 'would,' 'should,' 'could,' 'may' or similar expressions. BlackRock cautions that forward-looking statements are subject to numerous assumptions, risks and uncertainties, which change over time. Forward-looking statements speak only as of the date they are made, and BlackRock assumes no duty to and does not undertake to update forward-looking statements. Actual results could differ materially from those anticipated in forward-looking statements and future results could differ materially from historical performance. With respect to the Fund, the following factors, among others, could cause actual events to differ materially from forward-looking statements or historical performance: (1) changes and volatility in political, economic or industry conditions, the interest rate environment, foreign exchange rates or financial and capital markets, which could result in changes in demand for the Fund or in the Fund's net asset value; (2) the relative and absolute investment performance of the Fund and its investments; (3) the impact of increased competition; (4) the unfavorable resolution of any legal proceedings; (5) the extent and timing of any distributions or share repurchases; (6) the impact, extent and timing of technological changes; (7) the impact of legislative and regulatory actions and reforms, and regulatory, supervisory or enforcement actions of government agencies relating to the Fund or BlackRock, as applicable; (8) terrorist activities, international hostilities, health epidemics and/or pandemics and natural disasters, which may adversely affect the general economy, domestic and local financial and capital markets, specific industries or BlackRock; (9) BlackRock's ability to attract and retain highly talented professionals; (10) the impact of BlackRock electing to provide support to its products from time to time; and (11) the impact of problems at other financial institutions or the failure or negative performance of products at other financial institutions. Annual and Semi-Annual Reports and other regulatory filings of the Fund with the Securities and Exchange Commission ('SEC') are accessible on the SEC's website at and on BlackRock's website at and may discuss these or other factors that affect the Fund. The information contained on BlackRock's website is not a part of this press release.
Hindustan Times
11 hours ago
- Business
- Hindustan Times
Monthly social security checks could be cut by this year if Congress doesn't act
The Social Security Administration's (SSA) trust fund is slated to run out a year earlier than previous predictions as per 2025's Trustee Report Summary released on Wednesday (June 18). This could put about 70 million current beneficiaries of the system at risk as the demographic in the US starts shifting from a younger tax-paying population to an older benefit-ridden one. Although numbers can alter from year to year based on fluctuations in the economy and regulations in the number of beneficiaries, one thing is clear: the SSA's funds will deplete sooner rather than later and leave millions in the lurch. The root of the issue lies in the fact that the number of dependents is rapidly increasing and is projected to overshadow those contributing to the system. As the program's data suggests, the number of people claiming benefits jumped 17% to 1.8 million in May 2025 and is already on the fast track to enlisting 4 million additional beneficiaries this year. In addition, the recent implementation of the Social Security Fairness Act has substantially increased the pool size and quantum of benefits per individual. Dependents of and those receiving public pensions are now eligible to receive full benefits from the program. This puts additional constraints on an already overburdened system. The report implies that funds are now expected to run out by 2034, a year earlier than what was predicted earlier. 'If the Old-Age and Survivors Insurance (OASI) Trust Fund and the Disability Insurance (DI) Trust Fund projections were combined, the resulting projected fund (designated OASDI) would be able to pay 100 percent of total scheduled benefits until 2034, one year earlier than reported last year. At that time, the projected fund's reserves would become depleted, and continuing total fund income would be sufficient to pay 81 percent of scheduled benefits,' the report claims. The only viable solution to this situation is to either reduce the benefits/beneficiaries or increase the amount of revenue generated. Poll after poll declares that the public is increasingly in favor of the latter option over the former, since they oppose the principle of depriving those in need of crucial funds. 'To ensure we serve the public and deliver high-quality service to the 185 million people who work and pay payroll taxes for Social Security and the 70 million beneficiaries who will receive benefits during 2025, the financial status of the trust funds remains a top priority for the Trump Administration,' said Commissioner of Social Security Frank Bisignano in a statement published by the US Department of the Treasury. One popular approach suggested by multiple advocacy groups is to raise the cap for taxable income from the current threshold of $176,100. This 'tax the rich' has garnered favor among those who believe the wealthy should be responsible for bankrolling the SSA's depleting funds. The idea of raising the full retirement age to 70 years instead of the current 67 has failed to gain much support amid fears that the same may deprive an older population of much-needed support. Amid recent job cuts and multiple other changes at the SSA, stability of income after retirement has become all the more crucial. As Bisignano said, 'Congress, along with the Social Security Administration and others committed to eliminating waste, fraud, and abuse, must work together to protect and strengthen the trust funds for the millions of Americans who rely on it – now and in the future – for a secure retirement or in the event of a disability.'
Time of India
a day ago
- General
- Time of India
Child rights panel registers suo motu case on school roof collapse
Ballari: Karnataka State Commission for Protection of Child Rights (KSCPCR) has registered a suo motu case in the roof collapse that injured a student at Government Higher Primary School in Sirawar village of Ballari taluk on June 17. On a two-day visit to Ballari, the commission members questioned schoolteachers and education department officials, asking for a report. Commission representative Shashidhar Kosambe directed the officials from the education department to take legal measures against school principal, CRP and ECO (education coordinator). The school has 19 rooms, of which 9 are old, and a student sustained a serious head injury when the layer of the roof of a deteriorated room fell. The members expressed displeasure upon discovering that teachers of the school established their office in a well-maintained room while conducting classes in dilapidated spaces. Despite 790 enrolled students, only 400 were attending regularly. They recommended initiating efforts to bring back absent students. Suggestions on education & health During their visit to Ballari, the commission offered recommendations regarding education and health to the district administration. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Pedí tu alarma hoy y llevate Zerovision 100% GRATIS. Alarmas Verisure Ver oferta Undo Commission representatives Kosambe and Dr KT Thippeswamy advised the district administration to utilise the DMF (District Mineral Foundation) Fund effectively for improving govt schools. T he commission suggested utilising KKRDB, DMF, KMERC, and CSR grants for repairing deteriorated rooms, a suggestion which echoed later in a meeting with the district-level officials in the DC office later in the evening. Commission chairman Naganna Gowda, who chaired the meeting, also highlighted concerns about failed students being at risk of child marriage. He instructed education and welfare officials to monitor such cases. Gowda stressed that residential hostels should provide emotional support beyond basic needs, especially for rural students. He emphasised the importance of regular interaction between principals, teachers and students to build trust and address concerns. The commission will submit its findings and recommendations to the govt for improving health and education standards in the district.
Leaders
a day ago
- Business
- Leaders
HRDF Wins Two Gold Awards at EMEA Customer Service Event
The Human Resources Development Fund (HRDF) has been honored with two prestigious Gold Awards at the EMEA Contact Center World Awards, recognizing its excellence in customer service. HRDF received the Gold Award for Best Contact Center and the Gold Award for Best Use of Social Media in Customer Experience across Europe, the Middle East, and Africa (EMEA). These achievements were announced during the regional conference held in Berlin, Germany, which brought together leading organizations to celebrate outstanding performance in customer service. HRDF earned these accolades after competing with numerous government bodies and companies from around the globe. Additionally, the rigorous evaluation process was conducted in multiple phases and aligned with top-tier international standards. Judging was carried out by a panel of global experts in customer service and contact center operations. As part of the conference, HRDF presented its approach to enhancing the customer journey through diverse communication platforms and responsive support services. Moreover, the Fund shared insights into its customer engagement strategies, real-time assistance capabilities, use of advanced technologies, performance metrics, and ongoing initiatives to improve access to its programs and services. These awards, along with HRDF's recent local and international recognitions, reflect its unwavering commitment to excellence, quality, and innovation in customer experience. They also underscore HRDF's dedication to boosting operational efficiency, fulfilling service expectations, and driving sustainable outcomes that contribute to the Fund's mission of developing a resilient national workforce—aligned with the goals of Saudi Vision 2030. Related Topics : Saudi Arabia HRDF's Expenditure Hits SAR 6.9 Billion in 9 Months NEOM Tech & Digital Co. Launches Major Cloud Infrastructure Project with Oracle 'Customer service' Jobs for Saudis Only Aqualia, NWC Redefine House Connection Services in Saudi Arabia Short link : Post Views: 19
Business Wire
a day ago
- Business
- Business Wire
Chemtrade Logistics Income Fund Declares June 2025 Distribution
TORONTO--(BUSINESS WIRE)--Chemtrade Logistics Income Fund (TSX: today announced that it has declared a cash distribution of $0.0575 per unit for the month of June 2025 payable on July 31, 2025 to unitholders of record at the close of business on June 30, 2025. Holders of units who are non-residents of Canada will be required to pay all withholding taxes payable in respect of any distributions of income by the Fund.
