Anworth Mortgage Asset Corporation Sells a Preferred Offering

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Anworth Mortgage Asset Corporation, a mortgage REIT, has sold a new preferred stock offering.

The coupon on the issue is 7.625% and since it is a REIT it is a non qualified dividend issue.  The issue is unrated.

The issue will begin to trade on the OTC grey market starting tomorrow (Thursday) under the temporary ticker symbol ANWGP.

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Details of the offering are here.

IMPORTANT NOTE–issue priced at $24.50 instead of $25 so the effective yield at the issuing price is 7.78%.

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