NEW YORK--(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 2011 common stock cash
dividend of $0.65 per common share. The new conversion price for the
Notes is $17.2243 per common share, effective June 28, 2011. The
conversion price for the Notes was previously $17.8464 per common share.
The new conversion rate for each $1,000 principal amount of Notes is
58.0576 of the Company’s common shares. The conversion rate for each
$1,000 principal amount of Notes was previously 56.0338 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 manages assets on behalf of institutional and individual
investors worldwide. The Company’s principal business objective is to
generate net income for distribution to investors from its investment
securities and from dividends it receives from its subsidiaries. Annaly
is a Maryland corporation that has elected to be taxed as a real estate
investment trust (“REIT”).
This news release and our public documents to which we refer contain or
incorporate by reference certain forward-looking statements within the
meaning of Section 27A of the Securities Act of 1933, as amended, and
Section 21E of the Securities Exchange Act of 1934, as amended.
Forward-looking statements which are based on various assumptions (some
of which are beyond our control) 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 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 consummate any contemplated investment opportunities; risks
associated with the businesses of our subsidiaries, including the
investment advisory business of our wholly-owned subsidiaries,
including: the removal by clients of assets managed, their regulatory
requirements, and competition in the investment advisory business; risks
associated with the broker-dealer business of our wholly-owned
subsidiary; changes in government regulations affecting our business;
and our ability to maintain our qualification as a REIT for federal
income tax purposes. 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.
Source: Annaly Capital Management, Inc.