Anthracite Capital holder to exchange $3.95 million 11.75% convertibles for shares

By Susanna Moon

Chicago, July 27 - Anthracite Capital, Inc. agreed to issue a holder 1,317,000 common shares in exchange for $3,951,000 principal amount of the company's 11.75% convertible senior notes due 2027, according to an 8-K filing with the Securities and Exchange Commission.

The exchange is expected to settle on July 29.

The company said in the filing that it continues to seek ways to refinance or restructure its unsecured debt to reduce interest costs and improve liquidity.

Anthracite Capital is a New York specialty finance company focused on investments in high-yield commercial real estate loans and related securities.

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