BlackRock Bond Trust Raises $1.015 Billion

BlackRock, Inc. BLK announced today that the BlackRock Build America Bond Trust BBN has completed pricing its common share initial public offering, which will close on August 31, 2010, raising approximately $1.015 billion. The total amount raised could be increased to approximately $1.165 billion assuming full exercise of the underwriters' overallotment, which may not occur. BBN is a non-diversified closed-end registered investment company that invests primarily in taxable municipal securities known as "Build America Bonds."