Annaly Capital Management, Inc. Announces Conversion Rate Adjustment for 4.00% Convertible Senior Notes Due 2015
02 October 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 third quarter 2014 common stock cash
dividend of $0.30 per common share. The new conversion price for
the Notes is $11.5772 per common share, effective September 29,
2014. The conversion price for the Notes was previously $11.8944
per common share. The new conversion rate for each $1,000 principal
amount of Notes is 86.3764 of the Company’s common shares. The
conversion rate for each $1,000 principal amount of Notes was
previously 84.0728 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;
credit risks related to our investments in commercial real estate
assets and corporate debt; 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 a wholly-owned subsidiary and the
broker-dealer business of a 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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