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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: Smiling Bob who wrote (260628)	7/14/2010 9:12:35 AM
From: Smiling Bob	Respond to of 306849

The bottomless trough is open for business Blow money, extract more Blow money, extract more Blow money, extract more lather, rinse, repeat A fine example of our "economy" at work Fleecing to buy paper to fleece more ------ Annaly Capital to sell 60 million shares Annaly Capital Management to sell 60M shares; to buy mortgage-backed securities with proceeds ap Related Quotes Symbol Price Change NLY 18.26 0.00 Chart for Annaly Capital Management Inc C {"s" : "nly","k" : "a00,a50,b00,b60,c10,g00,h00,l10,p20,t10,v00","o" : "","j" : ""} On Tuesday July 13, 2010, 6:15 pm EDT NEW YORK (AP) -- Annaly Capital Management Inc. on Tuesday said it plans to sell 60 million shares of common stock in a public offering. The asset manager, which operates as a real estate investment trust, said it will grant the underwriters a 30-day option to purchase an additional 9 million shares to cover overallotments, if any. Annaly expects to use the proceeds to purchase mortgage-backed securities for its investment portfolio. The firm specializes in such assets. Some proceeds may also go toward general corporate purposes, including other investments and repayment of short-term debt. Credit Suisse Securities is acting as the lead book-running manager for the offering. Barclays Capital Inc., Deutsche Bank Securities Inc. and RCap Securities, Inc. are acting as book-running managers. Annaly shares closed Tuesday up 8 cents at $18.26, then lost 57 cents, or 3.1 percent, falling to $17.69 in aftermarket electronic trading. The stock has changed hands between $14.09 and $19.74 in the past 52 weeks.