Western Asset Mortgage Capital completes private placement of shares

Western Asset Management buys 650,000 common shares through offering

By Devika Patel

Knoxville, Tenn., April 10 - Western Asset Mortgage Capital Corp. said it settled a private placement of stock with Western Asset Management Co. on Wednesday. It also completed a public offering of stock on the same terms. Both deals raised about $200 million.

In the placement, the company sold 650,000 common shares. It sold 13 million shares in the public sale, which has a greenshoe of 1.95 million shares.

The Pasadena, Calif., company invests in mortgage-backed securities.

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