SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, DC 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D) OF THE
SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of Earliest Event Reported): April 29, 2002
ANTHRACITE CAPITAL, INC.
(Exact name of Registrant as Specified in Charter)
Maryland 001-13937 13-397-8906
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(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
40 East 52nd Street 10022
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(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 409-3333
N/A
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(Former Name or Former Address, if Changed Since Last Report)
ITEM 5. OTHER EVENTS
Anthracite Capital, Inc. (the "Company") is proposing to sell
approximately $520 million (face amount) of its assets which will include
certain commercial mortgaged-backed securities and unsecured real estate
investment trust obligations to Anthracite CDO I Ltd. (the "Issuer"), a
newly formed company incorporated with limited liability under the laws of
the Cayman Islands and a wholly-owned subsidiary of the Company. The Issuer
intends to sell notes secured by these assets. The Company expects to
receive approximately $420 million (net of expenses) in cash from this
transaction and to retain the entire residual equity interest in the assets
being sold by acquiring preferred shares in the Issuer. The closing of this
transaction is expected to occur on or about May 29, 2002.
The offering will be made on a Rule 144A basis to qualified
institutional buyers, to non-U..S. persons outside the United States in
compliance with Regulation S under the Securities Act of 1933, as amended
(the "Securities Act") and otherwise pursuant to exemptions under the
Securities Act.
This announcement shall not constitute an offer to sell or a
solicitation of an offer to buy the notes or the preferred shares, nor
shall there be any sale of these notes or the preferred shares in any state
in which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such state.
Any offer, if any at all, will be made only by means of an offering
memorandum.
Neither the notes nor the preferred shares will be registered
under the Securities Act of 1933, as amended, and may not be offered or
sold in the United States absent registration or an available exemption
from registration requirements.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of
1934, the Registrant has duly caused this report to be signed on its behalf
by the undersigned hereunto duly authorized.
ANTHRACITE CAPITAL, INC.
By: /s/ Robert Friedberg
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Name: Robert Friedberg
Title: Secretary
Dated: April 29, 2002