NOTE – I am out of town at the moment so a little late with this (announced yesterday) and my new method for listing details will be posted later in the weekend.
Giant mREIT Annally Capital (NYSE:NLY) has priced a new issue of fixed-to-floating rate preferred.
The issue will have an initial coupon of 6.75% which will change to floating rate in 2024 and will float with a rate of 4.989% plus 3 month Libor.
The issue will trade under OTC ticker ACAXP immediately.
The company will redeem their NLY-C issue with a coupon of 7.625% issue with the proceeds.