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Published on 1/8/2018 in the Prospect News Investment Grade Daily, Prospect News Liability Management Daily and Prospect News Preferred Stock Daily.

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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