BlackRock Virginia Municipal Bond Trust
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Company profile

BlackRock Virginia Municipal Bond Trust (the Trust) is a closed-end management investment company. The Trust's investment objective is to provide current income exempt from regular U.S. federal income tax and Virginia personal income taxes. It invests primarily in municipal bonds exempt from U.S. federal income taxes and Virginia personal income taxes. The Trust invests, under normal market conditions; at least 80% of its managed assets in municipal bonds that are investment grade quality at the time of investment or, if unrated, determined to be of comparable quality at the time of investment by the Trust's investment adviser. The Trust may invest directly in such securities or synthetically through the use of derivatives.

Closing Price
$16.10
Day's Change
0.00 (0.00%)
Bid
--
Ask
--
B/A Size
--
Day's High
16.10
Day's Low
16.10
Volume
(Light)
Volume:
10

10-day average volume:
577
10

AT&T Inc. Announces Additional Early Repayment of Debt

4:01 pm ET August 18, 2020 (BusinessWire) Print

AT&T Inc. (NYSE: T) continues to proactively manage its capital structure by reducing upcoming maturity towers.

AT&T has issued notices for the redemption in full of all the outstanding principal amount of three series of bonds totaling approximately $1.2 billion. When completed, the company will have refinanced or repaid $19.4 billion of near-term debt obligations(1) since the end of the second quarter through make-whole redemptions, tender offers and repayment of scheduled maturities. Of this amount, $8.2 billion will reduce the company's debt maturing within one year. By taking advantage of low borrowing costs and with anticipated continued strong cash flow, the company's future near-term debt maturity towers are very manageable.

These redemptions are consistent with AT&T's plans to continue to improve its credit quality even as it remains committed to supporting the dividend on its common stock and investing in broadband connectivity and software-based entertainment. For full-year 2020, AT&T expects its dividend payout ratio(2) will be in the 60% range and is targeting the low end of that range. This gives the company the flexibility to continue to reduce its debt levels during 2020.

(1) Debt maturing in 2020 through 2025 excluding commercial paper. (2)Dividend payout ratio is total dividends paid divided by free cash flow.

CAUTIONARY LANGUAGE CONCERNING FORWARD-LOOKING STATEMENTS

Information set forth in this news release contains forward-looking statements that are subject to risks and uncertainties, and actual results may differ materially. A discussion of factors that may affect future results is contained in AT&T's filings with the Securities and Exchange Commission and the prospectus and preliminary prospectus supplement related to the Offering. AT&T disclaims any obligation to update or revise statements contained in this news release based on new information or otherwise.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200818005715/en/

SOURCE: AT&T Inc.

McCall Butler
AT&T Corporate and Financial Communications
Phone: 470-773-5704
Email: mb8191@att.com
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