St. Louis, June 15 - Anthracite Capital, Inc. announced in a Friday press release that it has made a $37.5 million private placement of senior unsecured notes due 2017.
The notes will pay a coupon of 8.13% until July 2012, after which the interest rate will float at three-month Libor plus 255 bps.
Proceeds will be used to finance the company's commercial real estate strategies.
Anthracite, which is managed by BlackRock Financial Management, Inc., is a specialty finance company focused on investments in high yield commercial real estate loans and related securities.
The company is based in New York City.
| Issuer: | Anthracite Capital, Inc.
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| Amount: | $37.5 million
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| Maturity: | 2017
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| Security description: | Senior unsecured notes
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| Coupon: | 8.13% until July 2012, then three-month Libor plus 255 bps
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