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 fourth quarter 2012 common stock cash
dividend of $0.45 per common share. The new conversion price for the
Notes is $14.1447 per common share, effective December 26, 2012. The
conversion price for the Notes was previously $14.5963 per common share.
The new conversion rate for each $1,000 principal amount of Notes is
70.6980 of the Company’s common shares. The conversion rate for each
$1,000 principal amount of Notes was previously 68.5105 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; our
ability to integrate the commercial mortgage business; 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; our ability to maintain
our qualification as a REIT for federal income tax purposes; and our
ability to maintain our exemption from registration under the Investment
Company Act of 1940, as amended. 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, 888-8Annaly
www.annaly.com
Source: Annaly Capital Management, Inc.