Annaly Capital (NLY), a real estate investment trust, will offer 100 million shares of common stock and use the funds for buying mortgage-backed securities. The firm did not immediately release how much they expect to raise from the stock offer, but on Monday, Annaly stock traded at more than $18 per share. Underwriters of the offering will be given a 30-day option to buy another 15 million shares in common stock to cover overallotments. Credit Suisse (CS) will be the lead book-running manager on the deal. Annaly raised $1.1 billion in capital from a stock offering in July 2010 and another $1.3 billion in January. According to JPMorgan Chase (JPM) analysts, REITs could buy as much as $100 billion in MBS by the end of the year. Write to Jon Prior. Follow him on Twitter @JonAPrior.
Annaly Capital to raise more capital for MBS purchases
Most Popular Articles
Latest Articles
Financial planner: Reverse mortgages can help retirees with high property taxes
A financial planner says that a retiree confronted by rising property taxes might find a reverse mortgage helpful, according to MarketWatch.
-
MBA issues support for real estate finance bills debated by Congress
-
Supreme Court denies HomeServices’ petition in commission suit
-
Home prices kept climbing at a brisk pace in March: First American
-
California home sales sink in March
-
Proposal would allow Freddie Mac to acquire closed-end second mortgages