Annaly Capital Management is seeking to raise a total of about $1.3 billion through an initial public offering (IPO). The real estate investment trust (REIT), which will sell 75 million of shares of its common stock at $17.3 per share, may use the proceeds from the offering to buy mortgage-backed securities for its investment portfolio and for other general corporate purposes.

The joint book-running managers for the sale are Credit Suisse Securities (USA), BofA Merrill Lynch, Deutsche Bank Securities, Morgan Stanley and RCap Securities. The company has also granted the underwriters a 30 day option to buy up to an additional 11,250,000 shares of common stock solely to cover overallotments.

Click here for the release from Business Wire.