Annaly Capital Management, Inc. Announces Conversion Rate Adjustment for 4.00% Convertible Senior Notes Due 2015
03 July 2014 - 6:05AM
Business Wire
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 second quarter 2014 common stock
cash dividend of $0.30 per common share. The new conversion price
for the Notes is $11.8944 per common share, effective June 27,
2014. The conversion price for the Notes was previously $12.2079
per common share. The new conversion rate for each $1,000 principal
amount of Notes is 84.0728 of the Company’s common shares. The
conversion rate for each $1,000 principal amount of Notes was
previously 81.9145 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’s principal business objective is to generate net income
for distribution to its shareholders from its investments. Annaly
is a Maryland corporation that has elected to be taxed as a real
estate investment trust (“REIT”). Annaly is managed and advised by
Annaly Management Company LLC.
This news release and our public documents to which we refer
contain or incorporate by reference certain forward-looking
statements which are based on various assumptions (some of which
are beyond our control) and may be identified by reference to a
future period or periods or by the use of forward-looking
terminology, such as "may," "will," "believe," "expect,"
"anticipate," "continue," or similar terms or variations on those
terms or the negative of those terms. Actual results could differ
materially from those set forth in forward-looking statements due
to a variety of factors, including, but not limited to, changes in
interest rates; changes in the yield curve; changes in prepayment
rates; the availability of mortgage-backed securities and other
securities for purchase; the availability of financing and, if
available, the terms of any financings; changes in the market value
of our assets; changes in business conditions and the general
economy; our ability to grow the commercial mortgage business; our
ability to consummate any contemplated investment opportunities;
changes in government regulations affecting our business; our
ability to maintain our qualification as a REIT for federal income
tax purposes; our ability to maintain our exemption from
registration under the Investment Company Act of 1940, as amended;
risks associated with the businesses of our subsidiaries, including
the investment advisory business of our wholly-owned subsidiary and
risks associated with the broker-dealer business of our
wholly-owned subsidiary. For a discussion of the risks and
uncertainties which could cause actual results to differ from those
contained in the forward-looking statements, see "Risk Factors" in
our most recent Annual Report on Form 10-K and any subsequent
Quarterly Reports on Form 10-Q. We do not undertake, and
specifically disclaim any obligation, to publicly release the
result of any revisions which may be made to any forward-looking
statements to reflect the occurrence of anticipated or
unanticipated events or circumstances after the date of such
statements.
Annaly Capital Management, Inc.Investor Relations,
888-8Annalywww.annaly.com
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