BlackRock Utility and Infrastructure sets share offer at $375 million

By Toni Weeks

San Diego, Nov. 22 - BlackRock Utility and Infrastructure Trust amended its initial registration and will now offer 18.75 million shares at $20.00 per share for total proceeds of $375 million, according to an N-2/A Filing with the Securities and Exchange Commission.

As previously reported, the sales load will be $0.90 per share.

The underwriters will have a 45-day option to purchase additional shares to cover over-allotments.

The syndicate of underwriters will be led by Morgan Stanley & Co. LLC, Citigroup Global Markets Inc., Bank of America Merrill Lynch, UBS Securities LLC and Wells Fargo Securities, LLC.

Additional participating underwriters include Ameriprise Financial Services, Inc., RBC Capital Markets, LLC, BB&T Capital Markets (a division of Scott & Stringfellow, LLC), Chardan Capital Markets, LLC, J.J.B. Hilliard, W.L. Lyons, LLC, Janney Montgomery Scott LLC, Knight Capital Markets, LP, Ladenburg Thalmann & Co. Inc., Maxim Group LLC, Wedbush Securities Inc. and Wunderlich Securities, Inc.

The trust's objective is to provide total return through a combination of current income, current gains and long-term capital appreciation by investing primarily in equity securities issued by companies engaged in utilities and infrastructure businesses worldwide.

BlackRock Advisors, LLC is the investment adviser.

The trust has its principal offices in Wilmington, Del.

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