Market Overview

Annaly Announces Conversion Rate Adjustment for 4.00% Convertible Senior Notes

Related NLY
Top 4 Stocks In The REIT-Diversified Industry With The Highest Revenue
GNC, Southern Copper And Others Insiders Have Been Buying

Annaly Capital Management, Inc. (NYSE: NLY) (“Annaly” or the “Company”) today announced an adjustment to the conversion rate for 4.00% Convertible Senior Notes Due 2015 (the "Notes"). The adjustment to the conversion rate for the Notes is being made pursuant to the governing indenture for the Notes in light of the Company's previously announced fourth quarter 2012 common stock cash dividend of $0.45 per common share. The new conversion price for the Notes is $14.1447 per common share, effective December 26, 2012. The conversion price for the Notes was previously $14.5963 per common share. The new conversion rate for each $1,000 principal amount of Notes is 70.6980 of the Company's common shares. The conversion rate for each $1,000 principal amount of Notes was previously 68.5105 of the Company's common shares. Notice of the conversion rate adjustment was delivered to security holders and Wells Fargo Bank, National Association, the trustee, in accordance with the terms of the governing indenture for the Notes.

Annaly manages assets on behalf of institutional and individual investors worldwide. The Company's principal business objective is to generate net income for distribution to investors from its investment securities and from dividends it receives from its subsidiaries. Annaly is a Maryland corporation that has elected to be taxed as a real estate investment trust (“REIT”).

Posted-In: News Offerings

 

Related Articles (NLY)

Around the Web, We're Loving...

Partner Network

Get Benzinga's Newsletters