SUBSEQUENT EVENTS

12 Months Ended

Dec. 31, 2017

Subsequent Events [Abstract]

Subsequent Events

SUBSEQUENT EVENTS

On January 3, 2018, the Company entered into an at-the-market sales program for sales of the Company’s common stock having an aggregate offering price of up to $1.5 billion, which can be sold from time to time pursuant to separate Distribution Agency Agreements with each of the agents under the program.

On January 9, 2018, the Company provided notice to the record holders of the Company’s Series E Preferred Stock of the redemption of all 11,500,000 of the issued and outstanding shares of Series E Preferred Stock. The cash redemption amount for each redeemed share of Series E Preferred Stock is $25.00 plus accrued and unpaid dividends to, but not including, the redemption date of February 8, 2018.

On January 9, 2018, the Company also provided notice to the record holders of the Company’s Series C Preferred Stock of the redemption of 5,000,000 of the issued and outstanding shares of Series C Preferred Stock. The cash redemption amount for each redeemed share of Series C Preferred Stock is $25.00 plus accrued and unpaid dividends to, but not including, the redemption date of February 8, 2018.

On January 12, 2018, the Company closed the public offering of 17,000,000 shares of its 6.50% Series G Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock for gross proceeds of approximately $425.0 million before deducting the underwriting discount and other estimated offering expenses.