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 2014 common stock cash
dividend of $0.30 per common share. The new conversion price for the
Notes is $11.8944 per common share, effective June 27, 2014. The
conversion price for the Notes was previously $12.2079 per common share.
The new conversion rate for each $1,000 principal amount of Notes is
84.0728 of the Company’s common shares. The conversion rate for each
$1,000 principal amount of Notes was previously 81.9145 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”). Annaly is managed and advised by Annaly
Management Company LLC.
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) and
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 and other 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 grow the
commercial mortgage business; our ability to consummate any contemplated
investment opportunities; changes in government regulations affecting
our business; our ability to maintain our qualification as a REIT for
federal income tax purposes; our ability to maintain our exemption from
registration under the Investment Company Act of 1940, as amended; risks
associated with the businesses of our subsidiaries, including the
investment advisory business of our wholly-owned subsidiary and risks
associated with the broker-dealer business of our wholly-owned
subsidiary. 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.