Annaly Capital Management lowers conversion price for 4% convertibles

By Angela McDaniels

Tacoma, Wash., April 3 - Annaly Capital Management, Inc. decreased the conversion price for its 4% convertible senior notes due 2015 to $12.2079 per common share from $12.5411, according to a company news release.

Accordingly, the conversion rate was increased to 81.9145 shares per $1,000 principal amount of notes from 79.7379 shares.

The adjustment is effective as of March 28 and was made in light of the company's first-quarter common stock cash dividend of $0.30 per share.

Annaly is a real estate investment trust based in New York.

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