Annaly Capital Management Announces Pricing of Public Offering


NEW YORK--(BUSINESS WIRE)--Annaly Capital Management, Inc. (NYSE: NLY), a Maryland corporation, today announced that it has priced a public offering of an original issuance of 28 million shares of its 6.95% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the “Series F Preferred Stock”), liquidation preference $25.00 per share, for gross proceeds of approximately $700 million before deducting the underwriting discount and other estimated offering expenses. The offering is subject to customary closing conditions and is expected to close on or about July 31, 2017. The Company intends to apply to list the Series F Preferred Stock on the New York Stock Exchange under the symbol “NLYPrF.”

In connection with the offering, Annaly has granted the underwriters a thirty-day option to purchase up to an additional 4.2 million shares of Series F Preferred Stock solely to cover over-allotments.

About Annaly

Annaly is a leading diversified capital manager that invests in and finances residential and commercial assets. Annaly’s principal business objective is to generate net income for distribution to its stockholders through capital preservation, prudent selection of investments, and continuous management of its portfolio. Annaly has elected to be taxed as a real estate investment trust, or REIT, for federal income tax purposes. Annaly is externally managed by Annaly Management Company LLC.

It's on us. Share your news here.

Submit your stories and articles to citybizlist today.