Annaly Considers Raising Equity Capital.Business Editors NEW YORK--(BUSINESS WIRE)--Jan. 8, 2001 Given last week's interest rate easing by the Federal Reserve, Management is considering raising new equity capital and may seek to proceed promptly with such action. "With the Fed's recent move, the Government Treasury curve is steepening which is generally a more favorable fa·vor·a·ble adj. 1. Advantageous; helpful: favorable winds. 2. Encouraging; propitious: a favorable diagnosis. 3. environment for mortgage investors than has been available in the recent past," said Wellington Wellington, city (1996 pop. 157,647; urban agglomeration 334,051), capital of New Zealand, extreme S North Island, on Port Nicholson, an inlet of Cook Strait. St.Claire, Annaly's Chief Investment Officer. Annaly Mortgage Management, Inc. a New York New York, state, United States New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of based corporation owns and manages a portfolio of Mortgage-Backed Securities Mortgage-backed securities (MSBs) Securities backed by a pool of mortgage loans. . The Company's principal business objective is to generate net income for distribution to stockholders from the spread between the interest income on its Mortgage-Backed Securities and the costs of borrowing to finance their acquisition. The Company has elected to be taxed as a real estate investment trust (REIT REIT See: Real Estate Investment Trust REIT See real estate investment trust (REIT). ) and currently has 14,522,978 shares of common stock outstanding. This release is not and should not be construed as an offer to sell securities. |
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