Anthracite Capital, Inc. (NYSE:AHR) (the “Company” or “Anthracite”)
today announced that it continues to have discussions with its secured
credit facility lenders and that the waivers previously described in
Anthracite’s 2008 fourth quarter earnings press release, and which had
subsequently been extended to April 30, 2009, have been further extended
by such lenders to May 8, 2009.
The Company also announced today that it has paid to note holders the
interest payments on its junior subordinated notes due 2036 related to
Anthracite Capital Trust III and 7.20% senior notes due 2016 that were
originally due March 30, 2009. The payments were made within the 30-day
cure period under the notes.
The Company further announced that certain interest payments due April
30, 2009 under other unsecured outstanding debt are being withheld.
Under the indentures governing these notes, the failure to make an
interest payment is subject to a 30-day cure period before constituting
an event of default. As of the close of the business today, these
interest payments totaled approximately $5.1 million and €589,000.
About Anthracite
Anthracite Capital, Inc. is a specialty finance company focused
on investments in high yield commercial real estate loans and related
securities. Anthracite is externally managed by BlackRock Financial
Management, Inc., which is a subsidiary of BlackRock, Inc. (“BlackRock”)
(NYSE:BLK), one of the largest publicly traded investment management
firms in the United States with approximately $1.283 trillion in global
assets under management at March 31, 2009. BlackRock Realty Advisors,
Inc., another subsidiary of BlackRock, provides real estate equity and
other real estate-related products and services in a variety of
strategies to meet the needs of institutional investors.
Forward-Looking Statements
This release, and other statements that Anthracite may make, may contain
forward-looking statements within the meaning of the Private Securities
Litigation Reform Act of 1995, with respect to Anthracite’s future
financial or business performance, strategies or expectations.
