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Annaly Capital Management, Inc. — Preferred Stock Offering

Company: Annaly Capital Management, Inc.

Date announced: 7/25/2017
Shares Offered: 28,000,000
Date of Pricing: 7/25/2017
Price Per Share: $25.00
Preferred Stock Offering Details: Annaly Capital Management, Inc. (NYSE:NLY), a Maryland corporation, ("Annaly" or the "Company") today announced that it has priced a public offering of an original issuance of 28 million shares of its 6.95% Series F Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the "Series F Preferred Stock"), liquidation preference $25.00 per share, for gross proceeds of approximately $700 million before deducting the underwriting discount and other estimated offering expenses. The offering is subject to customary closing conditions and is expected to close on or about July 31, 2017. The Company intends to apply to list the Series F Preferred Stock on the New York Stock Exchange under the symbol "NLYPrF." In connection with the offering, Annaly has granted the underwriters a thirty-day option to purchase up to an additional 4.2 million shares of Series F Preferred Stock solely to cover over-allotments.

Annaly Capital Management is a real estate finance company. Co. owns a portfolio of real estate related investments, such as collateralized mortgage obligations, Agency debentures, and mortgage servicing rights. Co.'s investment groups are comprised of agency, which invests in agency mortgage-backed securities and related derivatives; residential credit, which invests in non-agency mortgage-backed assets within securitized products and residential mortgage loan markets; commercial real estate, which invests in commercial mortgage loans, securities, and other commercial real estate investments; and middle market lending, which provides customized debt financing to middle-market businesses.

Infatti ha callato quella che rendeva 7,XXX %
 
Canada's Bombardier Inc on Friday reported its first quarterly profit in two years and beat earnings expectations, helped by strong performance at its transportation division.
The Montreal-based plane and train manufacturer raised its full-year forecast for earnings before interest and taxes (EBIT) before special items to the top half of a previously forecast range of $580 million to $630 million.
For the quarter, Bombardier reported EBIT before special items of $164 million, up 55 percent from a year earlier. That beat analysts' consensus of $134 million, according to a research note by BMO's Fadi Chamoun.
Bombardier also raised its EBIT margin guidance before special items for its transportation and business jet divisions to approximately 8 percent for the year, from 7.5 percent.
Adjusted net income, which excludes some items, was $39 million, or 2 cents per share, in the second quarter, compared with a loss of $83 million, or 6 cents per share, a year earlier.
Analysts on average had expected Bombardier to lose 1 cent per share, according to Thomson Reuters I/B/E/S.
Bombardier is in the middle of a five-year turnaround plan to improve its financial performance after facing a cash crunch in 2015.
Revenue fell 5 percent to $4.10 billion in the quarter because of a decline in sales in its business aircraft and commercial aircraft segments.
Sales in Bombardier's transportation unit, its biggest, rose to $1.98 billion from $1.96 billion.
Free cash flow usage was in line with expectations at $570 million in the quarter and $1.2 billion year-to-date, as the company brings its new high-end Global 7000 business jet to market next year and ramps up production of its new CSeries single-aisle jet. Bombardier reiterated its full-year guidance of revenue growth in the low-single digits, excluding the impact of currency fluctuations.
(Reporting by Allison Lampert in Montreal and Yashaswini Swamynathan in Bengaluru; Editing by Arun Koyyur and Steve Orlofsky)
By Allison Lampert
 
Canada's Bombardier Inc on Friday reported its first quarterly profit in two years and beat earnings expectations, helped by strong performance at its transportation division.
The Montreal-based plane and train manufacturer raised its full-year forecast for earnings before interest and taxes (EBIT) before special items to the top half of a previously forecast range of $580 million to $630 million.
For the quarter, Bombardier reported EBIT before special items of $164 million, up 55 percent from a year earlier. That beat analysts' consensus of $134 million, according to a research note by BMO's Fadi Chamoun.
Bombardier also raised its EBIT margin guidance before special items for its transportation and business jet divisions to approximately 8 percent for the year, from 7.5 percent.
Adjusted net income, which excludes some items, was $39 million, or 2 cents per share, in the second quarter, compared with a loss of $83 million, or 6 cents per share, a year earlier.
Analysts on average had expected Bombardier to lose 1 cent per share, according to Thomson Reuters I/B/E/S.
Bombardier is in the middle of a five-year turnaround plan to improve its financial performance after facing a cash crunch in 2015.
Revenue fell 5 percent to $4.10 billion in the quarter because of a decline in sales in its business aircraft and commercial aircraft segments.
Sales in Bombardier's transportation unit, its biggest, rose to $1.98 billion from $1.96 billion.
Free cash flow usage was in line with expectations at $570 million in the quarter and $1.2 billion year-to-date, as the company brings its new high-end Global 7000 business jet to market next year and ramps up production of its new CSeries single-aisle jet. Bombardier reiterated its full-year guidance of revenue growth in the low-single digits, excluding the impact of currency fluctuations.
(Reporting by Allison Lampert in Montreal and Yashaswini Swamynathan in Bengaluru; Editing by Arun Koyyur and Steve Orlofsky)
By Allison Lampert


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