Anthracite Capital Inc., New York, is still in discussions with its secured credit facility lenders and therefore the waivers granted by those lenders have been extended by such lenders from April 1, 2009 to April 15, 2009. Anthracite did not make interest payments due on March 30, 2009 on its junior subordinated notes due 2036 related to Anthracite Capital Trust III and 7.20% senior notes due 2016. 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.
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