Annaly Capital Management, Inc. Announces
Pricing of Public Offering of Convertible Senior
March 02, 2010 09:48 AM Eastern Time
NEW YORK--(EON: Enhanced Online News)--Annaly Capital Management, Inc. (NYSE: NLY) today
announced the pricing of its public offering of an additional $100.0 million in aggregate principal amount of its 4%
convertible senior notes due 2015. The notes will have the same terms as and form a single series with the 4%
convertible senior notes due 2015 previously issued by Annaly on February 12, 2010 and will be issued under the
same CUSIP number. Following the completion of this offering, the total aggregate principal amount outstanding of
Annaly’s 4% convertible senior notes due 2015 will be $600.0 million.
The net proceeds to Annaly from this offering, after deducting underwriting discounts and estimated offering
expenses, will be approximately $96.75 million. Annaly expects to use the proceeds of this offering to purchase
mortgage-backed securities for its investment portfolio and for general corporate purposes. The offering is expected
to close March 5, 2010, subject to customary closing conditions.
Interest on the notes will be paid semi-annually at a rate of 4% per year and the notes will mature on February 15,
2015 unless earlier repurchased or converted. The notes will be convertible into shares of Annaly’s common stock
(the “Common Stock”). The notes will be convertible at an initial conversion rate of 46.6070 shares of Common
Stock per $1,000 principal amount of notes, which is equivalent to an initial conversion price of approximately
$21.456 per share of Common Stock, subject to adjustment in certain circumstances.
Credit Suisse Securities (USA) LLC is acting as the sole underwriter 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 th