Anworth Mortgage $50 million preferred shares talked at 8 5/8%-8¾%, to price Monday

By Paul A. Harris

St. Louis, Oct. 26 - Price talk on Anworth Mortgage Asset Corp.'s series A perpetual preferred shares emerged Tuesday at 8 5/8% to 8¾%, according to a syndicate source.

The shares are not rated.

The roadshow will be presented Wednesday in New York, Thursday in Boston, and Friday on the West Coast. Pricing is expected on Monday.

Friedman Billings Ramsey has the books. Stifel Nicolaus & Co., Advest Group, BB&T and Flagstone Securities will be the co-managers.

The company will sell 2 million shares for $25 par.

The shares will come with five years of call protection.

The Santa Monica, Calif.-based company invests primarily in U.S. agency and other highly rated single-family adjustable-rate and fixed-rate mortgage-backed securities that it acquires in the secondary market.

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