Annaly Capital lowers conversion price of 4% convertibles due 2015

By Marisa Wong

Madison, Wis., Jan. 6 - Annaly Capital Management, Inc. said it lowered the conversion price of its 4% convertible senior notes due 2015 to $12.5411 per share from $12.9246 per share.

The adjustment, effective Dec. 27, was made as a result of the company's fourth-quarter 2013 common stock cash dividend of $0.30 per share, according to an 8-K filing with the Securities and Exchange Commission.

The new conversion rate is 79.7379 shares for each $1,000 principal amount of notes, up from 77.3716 shares previously.

The company's shares closed at $10.00 (NYSE: NLY) on Friday.

Annaly is a New York-based real estate investment trust and asset manager.

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