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): December 10, 2002
ANTHRACITE CAPITAL, INC.
(Exact name of Registrant as Specified in Charter)
Maryland 001-13937 13-397-8906
----------------------------- ---------------- --------------------
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)
40 East 52nd Street 10022
--------------------------------------------- -------------------
(Address of Principal Executive Offices) (Zip Code)
Registrant's telephone number, including area code: (212) 409-3333
N/A
-------------------------------------------------------------------------------
(Former Name or Former Address, if Changed Since Last Report)
ITEM 2. ACQUISITION OR DISPOSITION OF ASSETS
On December 10, 2002, Anthracite Capital, Inc. (the "Company") closed
the sale of approximately $313 million (face amount) of its assets which
included certain commercial mortgaged-backed securities and unsecured real
estate investment trust obligations to Anthracite CDO II 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
sold notes secured by these assets in a private placement. The Company
received approximately $270.6 million (net of expenses and original issue
discount) in cash from this transaction and retained the entire residual
equity interest by acquiring preferred shares in the Issuer and also retained
approximately $26.9 million of the Issuer's most subordinate class of notes.
The notes will not be and have not been registered under the
Securities Act of 1933, as amended, and may not be offered or sold in the
United States absent registration or an applicable exemption from the
registration requirements thereof.
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 L. Friedberg
--------------------------
Name: Robert L. Friedberg
Title: Secretary
Dated: December 12, 2002