$2.8 billion

of capital raised across common and preferred markets over 6 months1

 

$3.6 billion

of FHLB financing provides a significant funding advantage over warehouse financing2

 

56bps

Reduction in cost of preferred equity through recent offerings and redemptions3

Annaly has continued to expand and diversify its capital base and funding sources

Capital Structure Highlights
  • Added 6 new counterparties in 2017 for a total of $4.5 billion in repo

  • 1 of just 6 mREITs with access to attractive FHLB financing2

  • ~$0.9bn of credit facilities and mortgages payable4

  • Raised $1.1bn in preferred equity capital since July 20175

  • Raised $1.7bn in common equity capital since July 20175

Since July 2017, Annaly has opportunistically accessed the capital markets through successive, accretive offerings6

Source - Financial data per Company filings as of December 31, 2017. Market data per Bloomberg as of December 31, 2017 unless otherwise noted.

  1. $2.8 billion is inclusive of all common and preferred equity offerings from July 2017 to January 2018. July common offering size includes the underwriter’s full exercise of its overallotment option to purchase additional shares of common stock. October common offering size includes the underwriter’s partial exercise of its overallotment option to purchase additional shares of common stock. July preferred offering size includes the underwriter’s partial exercise of its overallotment option to purchase additional shares of preferred stock. On January 12, 2018, Annaly closed a public offering of 17 million shares of its 6.50% Series G Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock. Gross proceeds for all offerings are before deducting the underwriting discount and other estimated offering expenses.

  2. “FHLB financing” refers to FHLB membership ending February 2021.

  3. 56bps represents the difference in weighted average coupon of Annaly’s outstanding preferred equity offerings as of January 9, 2018 (7.0515%) and outstanding preferred equity offerings as of July 24, 2017 (7.616%).

  4. Includes $116 million funded on $300 million Middle Market Lending credit facilities and $385 million funded on $500 million Commercial Real Estate facility. Also includes $312 million of mortgages payable.

  5. “Preferred equity capital” and “common equity capital” amounts are before deducting the underwriting discount and other estimated offering expenses. See note 1 above for additional information on offerings.

  6. See note 1 above for additional information on offerings.