Annaly Capital repurchases $280.7 million of 4% convertibles due 2015

By Tali David

Minneapolis, Sept. 6 - Annaly Capital Management, Inc. repurchased $280.7 million of its outstanding $600 million of 4% convertible senior notes due 2015, according to a press release.

"We continue to focus on managing the strength and flexibility of our balance sheet while maintaining leverage at a relatively low level," chairman, chief executive officer and president Michael A.J. Farrell said in the release.

"This is another step in a process that includes lengthening the weighted average days to maturity of our repurchase agreements and diversifying our capital base via our May 2012 offerings of $750 million of 5% convertible senior notes and $300 million of 7.625% cumulative redeemable preferred stock."

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

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