NEW YORK--(BUSINESS WIRE)--
Annaly Capital Management, Inc. (NYSE: NLY) today announced that it has
priced a public offering of 11 million shares of its 7.625% Series C
Cumulative Redeemable Preferred Stock (the “Series C Preferred Stock”),
liquidation preference $25.00 per share, for gross proceeds of
approximately $275 million. The offering is subject to customary closing
conditions and is expected to close on or about May 16, 2012.
In connection with the offering, Annaly has granted the underwriters an
option for 30 days to purchase up to an additional 1.65 million shares
of the Series C Preferred Stock to cover overallotments, if any.
Annaly 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.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, J.P. Morgan
Securities LLC, Morgan Stanley & Co. LLC and UBS Securities LLC are
acting as the joint lead book-running managers for the offering.
Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Deutsche Bank
Securities Inc., Goldman, Sachs & Co., RBC Capital Markets, LLC, and
Stifel, Nicolaus & Company, Incorporated are acting as co-managers for
the offering.
Annaly has filed a shelf registration statement and prospectus with the
Securities and Exchange Commission (SEC), and will file a prospectus
supplement for the offering to which this communication relates. Before
you invest, you should read the prospectus supplement and the
accompanying prospectus and other documents Annaly has filed with the
SEC for more complete information about Annaly and this offering. You
may obtain these documents for free by visiting EDGAR on the SEC Web
site at http://www.sec.gov.
Alternatively, Annaly, the underwriters or any dealer participating in
the offering will arrange to send you the prospectus supplement and
accompanying prospectus if you request them by contacting:
Merrill Lynch, Pierce, Fenner & Smith Incorporated
4 World
Financial Center
New York, NY 10080
Attention: Prospectus
Department
e-mail [email protected]
J.P. Morgan Securities LLC
383 Madison Avenue
New York, NY
10179
Attn: Investment Grade Syndicate Desk
Morgan Stanley
Attention: Prospectus Dept.
180 Varick Street
2nd
Floor
New York, NY 10014
Telephone: (866) 718-1649
Email: [email protected]
UBS Investment Bank
299 Park Avenue
New York, NY 10171
Prospectus
Department
The shares will be issued pursuant to the shelf registration statement
that was previously filed with the SEC. This press release shall not
constitute an offer to sell or a solicitation of an offer to buy the
shares. An offering of the shares will be made only by means of a
prospectus supplement and accompanying prospectus. The prospectus
supplement and the accompanying prospectus shall not constitute an offer
to sell or the solicitation of an offer to buy, nor shall there be any
sale of these securities in any state in which such offer, solicitation
or sale would be unlawful prior to registration or qualification under
the securities laws of any such state.
Statements in this press release contain "forward looking" information
within the meaning of Section 27A of the Securities Act of 1933 and
Section 21E of the Securities Exchange Act of 1934. Such statements
involve a number of risks and uncertainties. Those factors include
conditions in the financial markets and customary offering closing
conditions. Please see Annaly’s filing with the SEC for certain other
factors that may affect forward-looking information.
Annaly Capital Management, Inc.
Investor Relations
1-888-8Annaly
Source: Annaly Capital Management, Inc.