Annaly Capital Management Inc. (NLY: Quote) announced that it plans to make a public offering of shares of an original issuance of Series D Cumulative Redeemable Preferred Stock, liquidation preference $25.00 per share.
The company said it 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.
The company 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.
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by RTT Staff Writer
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