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Annaly to redeem some preferreds with new offering proceeds
New York, Jan. 8 – Annaly Capital Management, Inc. plans to redeem its $287.5 million of outstanding 7.625% series E preferred stock using proceeds from a new offering and some of its $300 million of 7.625% series C preferred stock.
The company announced on Monday morning in a 424B5 filing with the Securities and Exchange Commission that it plans to sell series G fixed-to-floating rate cumulative redeemable preferred stock.
Annaly is a New York-based real estate investment trust that invests in agency mortgage-backed securities, residential credit assets, commercial real estate, residential mortgage loans, mortgage servicing rights and corporate debt.
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