Annaly Capital Management Announces Public Offering of Series D Cumulative Redeemable Preferred Stock
Annaly Capital Management, Inc. (NYSE: NLY) today announced that it intends to make a public offering of shares of an original issuance of Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share. Annaly intends to grant the underwriters of the Series D Preferred Stock a 30 day option to purchase additional shares of Series D Preferred Stock solely to cover over-allotments.
Annaly expects to use the proceeds of this offering to purchase mortgage-backed securities for its investment portfolio and for general corporate purposes, which may include the retirement of its long-term indebtedness, additional investments and repayment of short term indebtedness.
(c) 2013 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.