Annaly Capital unit Chimera files for $250mn IPO

08/17/07 - newratings.com

NEW YORK, August 17 (newratings.com) - Annaly Capital Management Inc (NLY) Friday announced that its unit Chimera Investment Corp had filed for an IPO with the Securities and Exchange Commission (SEC).

The mortgage real estate investment trust said Chimera Investment seeks to raise $250 million in the IPO. Annaly Capital Management added that Chimera Investment will invest in the "residential mortgage loans, residential mortgage-backed securities, real estate-related securities and various other asset classes," and would be classified as a REIT for tax purposes. Annaly Capital Management stated that it would pick up a 9.8% stake in Chimera Investment as part of the IPO.