BBN

BlackRock Taxable Municipal Bond Trust is a closed-end management investment company that seeks to provide current income and capital appreciation by investing primarily in taxable municipal securities. Managed by BlackRock Advisors, LLC, the fund focuses on municipal obligations issued by or on behalf of states, territories, and possessions of the United States and the District of Columbia, as well as their political subdivisions, agencies, and instrumentalities. Unlike traditional municipal bonds which offer tax-exempt income, this fund invests in the taxable segment of the municipal market. The fund's portfolio includes taxable municipal bonds issued for various purposes including economic development projects, pension funding obligations, and other projects that do not qualify for federal tax-exempt status. These bonds typically offer higher yields than tax-exempt municipal bonds to compensate investors for the lack of tax benefits. The fund may also invest in Build America Bonds (BABs), which were created as part of the American Recovery and Reinvestment Act to provide state and local governments with access to taxable debt markets. As a closed-end fund, BlackRock Taxable Municipal Bond Trust issues a fixed number of shares that trade on stock exchanges, often at premiums or discounts to the fund's net asset value (NAV). The fund employs leverage to potentially enhance returns, though this also increases risk. The trust provides monthly distributions to shareholders and serves investors seeking income from municipal sector credit exposure without the tax-exempt feature of traditional municipal bonds.