Annaly Capital to offer 100 million common shares

NEW YORK (AP) — Annaly Capital Management Inc. said Monday it will offer 100 million shares of common stock in a public offering.

The real estate investment company intends to grant the underwriters a 30-day option to purchase up to 15 million additional shares of common stock to cover overallotments.

Annaly said it expects to use proceeds for corporate purposes including investing in mortgage-backed securities.

Credit Suisse Securities is the lead book-running manager. BofA Merrill Lynch, Morgan Stanley, UBS Investment Bank and RCap Securities Inc. are joint book-running managers.

Shares of Annaly Capital Management Inc. fell 33 cents, or 1.8 percent, to $17.99 in after-hours trading after the announcement. They had ended regular trading down 20 cents at $18.32.