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Annaly Capital lowers conversion price of 4% convertibles due 2015
By Tali Rackner
Norfolk, Va., July 2 – Annaly Capital Management, Inc. said it lowered the conversion price of its 4% convertible senior notes due 2015 to $11.8944 per share from $12.2079 per share.
The adjustment, effective June 27, was made as a result of the company’s fourth-quarter 2013 common stock cash dividend of $0.30 per share, according to a press release.
The new conversion rate is 84.0728 shares for each $1,000 principal amount of notes, up from 81.9145 shares previously.
The company’s shares closed at $11.21 (NYSE: NLY) on Wednesday.
Annaly is a New York-based real estate investment trust and asset manager.
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