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Dynex Capital, Inc. Announces Timing for Release of Second Quarter Results and Conference Call and Updates CMBS Activity

^{Published on 2010-07-22 07:05:44 - Market Wire}
 

GLEN ALLEN, Va.--([ BUSINESS WIRE ])--Dynex Capital, Inc. (NYSE: DX) announced today that it will release its second quarter 2010 results after the market closes on Tuesday, July 27, 2010, and will hold a conference call at 11:00 A.M. ET on Wednesday, July 28, 2010 to discuss the results. The press release will be available online at [ www.dynexcapital.com ] under aInvestor Relations/Recent News.a The call may be accessed by dialing 1-877-317-6789 and will also be webcast over the internet at [ www.dynexcapital.com ] through a link provided under aInvestor Relations.a

The Company also announced that on July 15, 2010, it redeemed at par $43 million in aA+a™-rated CMBS that it issued in 1998. The coupon on the CMBS is 7.87% and the Company financed the redemption with ninety-day repurchase agreement financing at a net interest spread of approximately 5.50%. The Company expects the earnings contribution for the third quarter from this investment to be approximately $0.6 million. The Company also reported that the CMBS securitization it issued in 1997 has reached its redemption balance, and as such the Company now has the right to redeem and refinance up to $80 million in investment-grade CMBS which have a current weighted average coupon of 8.29%.

Dynex Capital, Inc. is areal estate investment trust, or REIT, which invests in mortgage loans and securities on a leveraged basis. The Companyinvests in Agency MBS, non-Agency MBS, and CMBS. The Companyalso has investments in securitized single-family residential and commercial mortgage loansoriginated by the Companyfrom 1992 to 1998.

"Safe Harbor" Statement under the Private Securities Litigation Reform Act of 1995: Statements in this press release regardingDynex Capital, Inc.'sbusinessthat are not historical facts are "forward-looking statements" that involve risks and uncertainties. For a discussion ofthese risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see "Risk Factors" in the Company's Annual Report on Form 10-K and other reports filed with the Securities and Exchange Commission.