BlackRock Core Bond Trust Announces Rights Offering to Raise Additional Capital

BlackRock Core Bond Trust announced that its Board of Trustees has approved a transferable rights offering, allowing current shareholders to subscribe for additional shares at a discount. The offer aims to increase the Fund’s assets and capitalize on attractive income opportunities amid rising interest rates.

1. Purpose of the Rights Offering

• The Fund will issue transferable rights (“Rights”) to shareholders as of May 27, 2025 (Record Date).
• Rights holders can purchase new shares at a discount to the market price.
• The offer is intended to increase the Fund’s capital to take advantage of investment opportunities consistent with its objective of providing current income and capital appreciation.
• All offering expenses will be borne by BlackRock Advisors, LLC (the Adviser), not by the Fund or shareholders.

2. Benefits to Shareholders and the Fund

• Opportunity to buy shares below market price or sell rights to realize value.
• Potential for distribution stability with rising interest rates.
• No offering fees for shareholders.
• Lower expense ratio due to spreading fixed costs over a larger asset base.
• Enhanced liquidity through increased trading volume.

3. Distribution and Dividend Details

• The Fund declared a regular monthly distribution payable on May 30, 2025, with a record date of May 15, 2025.
• Shares issued under the Offer will not receive this distribution but will be eligible for distributions starting July.

4. Terms of the Offering

• Rights ratio: One Right per Share held on the Record Date. One new Share can be purchased for every 3 Rights (1-for-3).
• Shareholders with fewer than 3 Shares will still be entitled to subscribe for one new Share.
• Subscription Price: 95% of the average market price over five trading days ending June 18, 2025, or 90% of NAV if the former is too low.
• Over-subscription privilege: Shareholders who fully exercise their Rights may apply for additional shares not subscribed by others, subject to limitations.
• Rights will be transferable and tradable on the NYSE under the symbol “BHK RT” from May 23 through June 17, 2025.

5. How to Participate

• Rights certificates and offering documents will be mailed to Record Date shareholders.
• Shareholders holding shares through brokers must instruct their brokers to exercise or sell Rights.
• Those holding shares directly must send subscription certificates and payment to the subscription agent.

6. Important Legal Notes

• The offer will only be made through a prospectus supplement and accompanying prospectus.
• This announcement is not a complete offer or solicitation.
• Investors should carefully review the Fund’s prospectus for risks and charges before investing.

The BlackRock Core Bond Trust’s rights offering provides shareholders a timely opportunity to invest at a discount and supports the Fund’s goal of enhancing income potential and liquidity in a rising interest rate environment.