Mortgage REIT Annaly Capital to Issue Fixed-to-Floating Preferred

In a “refinancing” transaction hue mortgage REIT Annaly Capital (NYSE:NLY) is selling a fixed to floating rate preferred stock issue.

Details are not yet released but you can find the preliminary prospectus here.

The company does plan to redeem their NLY-E issue which carries a coupon of 7.625% and which became redeemable on 8/27/2017.

We will publish further details as they are released.