Western Asset Mortgage Capital Corporation, a REIT owned by Legg Mason, has announced its IPO terms. The company wants to raise $160 mn through an offer of 8 mn shares priced at $20 each. At these terms, Western Asset Mortgage Capital Corporation would be worth $207 mn. The lead underwriters are JP Morgan, Deutsche Bank, Citigroup and Jefferies. It plans to list on NYSE and trade under the symbol WMC.
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Source: Renaissance Capital