Annaly Capital (NLY) Announces Adjustment to Conversion Rate for 4% Convertible Senior Notes Due 2015
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Annaly Capital Management, Inc. (NYSE: NLY) announced an adjustment to the conversion rate for 4.00% Convertible Senior Notes Due 2015. The adjustment to the conversion rate for the Notes is being made pursuant to the governing indenture for the Notes in light of the Company's previously announced second quarter 2012 common stock cash dividend of $0.55 per common share. The new conversion price for the Notes is $15.0257 per common share, effective June 27, 2012. The conversion price for the Notes was previously $15.5263 per common share.
The new conversion rate for each $1,000 principal amount of Notes is 66.5527 of the Company’s common shares. The conversion rate for each $1,000 principal amount of Notes was previously 64.4069 of the Company’s common shares. Notice of the conversion rate adjustment was delivered to security holders and Wells Fargo Bank, National Association, the trustee, in accordance with the terms of the governing indenture for the Notes.
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The new conversion rate for each $1,000 principal amount of Notes is 66.5527 of the Company’s common shares. The conversion rate for each $1,000 principal amount of Notes was previously 64.4069 of the Company’s common shares. Notice of the conversion rate adjustment was delivered to security holders and Wells Fargo Bank, National Association, the trustee, in accordance with the terms of the governing indenture for the Notes.
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