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 2013 common stock cash
dividend of $0.40 per common share. The new conversion price for the
Notes is $13.3111 per common share, effective June 27, 2013. The
conversion price for the Notes was previously $13.7440 per common share.
The new conversion rate for each $1,000 principal amount of Notes is
75.1250 of the Company’s common shares. The conversion rate for each
$1,000 principal amount of Notes was previously 72.7592 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’s principal business objective is to generate net income for
distribution to its shareholders from its investments. 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 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 integrate
the commercial mortgage business; 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; 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.