Anworth Mortgage Asset Corporation Sells a Preferred Offering
By: Tim McPartland,
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.
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%.