8-K

                                  UNITED STATES
                       SECURITIES AND EXCHANGE COMMISSION
                             Washington, D.C. 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) May 4, 2006 (May 2, 2006)

                            Anthracite Capital, Inc.
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             (Exact name of registrant as specified in its charter)


            Maryland                   001-13937             13-397-8906
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  (State or other jurisdiction        (Commission           (IRS Employer
        of incorporation)             File Number)       Identification No.)


         40 East 52nd Street, New York, New York                 10022
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         (Address of principal executive offices)             (Zip Code)


Registrant's telephone number, including area code   (212) 810-3333
                                                   -----------------------------

                                      N/A
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         (Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to
simultaneously satisfy the filing obligation of the registrant under any of the
following provisions (see General Instruction A.2. below):

[ ]  Written communications pursuant to Rule 425 under the Securities Act
     (17 CFR 230.425)

[ ]  Soliciting material pursuant to Rule 14a-12 under the Exchange Act
     (17 CFR 240.14a-12)

[ ]  Pre-commencement communications pursuant to Rule 14d-2(b) under the
     Exchange Act (17 CFR 240.14d-2(b))

[ ]  Pre-commencement communications pursuant to Rule 13e-4(c) under the
     Exchange Act (17 CFR 240.13e-4(c))



Item 8.01.   Other Events(1)

On May 2, 2006, Anthracite Capital, Inc. (the "Company") issued a press release
announcing that the Company had priced a new $417.0 million Collateralized Debt
Offering. A copy of the press release issued by the Company is attached as
Exhibit 99.1.


Item 9.01.   Financial Statements and Exhibits

(c) Exhibits.

99.1     Press Release issued by Anthracite Capital, Inc., dated May 2, 2006.



- --------------------
  (1) This current report on Form 8-K is being filed to correct certain
  typographical errors pertaining to the filing date of the Company's current
  report on Form 8-K, filed May 3, 2006.



                                    SIGNATURE

         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/ James J. Lillis
                                              ----------------------------------
                                              Name:  James J. Lillis
                                              Title: Chief Financial Officer

                                              Dated: May 4, 2006



                            ANTHRACITE CAPITAL, INC.
                           CURRENT REPORT ON FORM 8-K
                     Report dated May 4, 2006 (May 2, 2006)

EXHIBIT INDEX

Exhibit No.      Description

99.1             Press Release issued by Anthracite Capital, Inc., dated May 2,
                 2006.

EX-99

Exhibit 99.1

                                                    [ANTHRACITE GRAPHIC OMITTED]

Contact:    Brian Beades
            212-810-5596
            ahr-info@blackrock.com


     Anthracite Capital Prices $417.0 Million Secured Debt at a Current Cost
                                of Funds of 6.3%


New York, May 2, 2006 - Anthracite Capital, Inc. (NYSE: AHR) ("Anthracite" or
the "Company") today announced the pricing of $417,000,000 of non-recourse debt
offered by Anthracite CRE CDO 2006-HY3 Ltd. (the "CDO"). The debt will be
secured by a portfolio of commercial mortgage-backed securities ("CMBS") and
subordinated commercial real estate loans. This debt, rated AAA through BBB-,
will be privately placed, and the Company will receive additional CDO debt rated
BB and 100% of the preferred shares issued by the CDO. The transaction is
expected to close on May 23, 2006.

The terms of the offering permit the Company to contribute to the CDO up to $50
million of additional CMBS during a ramp-up period. These CMBS assets will be
contributed at par value. The debt issuance is intended to match fund existing
Company assets to be contributed to the CDO at closing, and the assets to be
purchased during the ramp-up period, with long-term liabilities. The Company
intends to account for this transaction on its balance sheet as a financing. The
Company will use the proceeds of this offering, its sixth CDO issuance, to pay
down short-term liabilities which are currently used to finance its credit
sensitive portfolio. All debt placed will either carry a fixed rate or will be
hedged to create a current cost of funds of approximately 6.3% after issuance
expenses and will have a weighted average life of 8.1 years.

The securities to be offered by the CDO have not been and will not be registered
under the Securities Act of 1933, as amended, or any state securities or "blue
sky" laws and may not be offered or sold in the United States absent
registration or an applicable exemption from registration requirements. This
press release is not an offer to sell or a solicitation of an offer to buy any
security.

About Anthracite

Anthracite Capital, Inc. is a specialty finance company focused on investments
in high yield commercial real estate loans and related securities. Anthracite is
externally managed by BlackRock Financial Management, Inc., which is a
subsidiary of BlackRock, Inc. ("BlackRock") (NYSE:BLK), one of the largest
publicly traded investment management firms in the United States with
approximately $463.1 billion in global assets under management as of March 31,
2006. BlackRock Realty Advisors, Inc., another subsidiary of BlackRock, provides
real estate equity and other real estate-related products and services in a
variety of strategies to meet the needs of institutional investors. BlackRock is
a member of The PNC Financial Services Group, Inc. ("PNC") (NYSE:PNC), a
diversified financial services organization. Through its affiliates, PNC
originates commercial, multifamily and residential real estate loans, and
services $163.1 billion in commercial mortgage loans for third parties through
its Midland Loan Services, Inc. subsidiary as of March 31, 2006.


Forward Looking Statements

This press release may contain forward-looking statements within the meaning of
the Private Securities Litigation Reform Act with respect to future financial or
business performance, strategies or expectations. Forward-looking statements are
typically identified by words or phrases such as "trend," "potential,"
"opportunity," "pipeline," "believe," "comfortable," "expect," "anticipate,"
"current," "intention," "estimate," "position," "assume," "outlook," "continue,"
"remain," "maintain," "sustain," "seek," "achieve," and similar expressions, or
future or conditional verbs such as "will," "would," "should," "could," "may" or
similar expressions. Anthracite cautions that forward-looking statements are
subject to numerous assumptions, risks and uncertainties, which change over
time. Forward-looking statements speak only as of the date they are made, and
Anthracite assumes no duty to and does not undertake to update forward-looking
statements. Actual results could differ materially from those anticipated in
forward-looking statements and future results could differ materially from
historical performance.

In addition to factors previously disclosed in Anthracite's Securities and
Exchange Commission (the "SEC") reports and those identified elsewhere in this
press release, the following factors, among others, could cause actual results
to differ materially from forward-looking statements or historical performance:
(1) the introduction, withdrawal, success and timing of business initiatives and
strategies; (2) changes in political, economic or industry conditions, the
interest rate environment or financial and capital markets, which could result
in changes in the value of Anthracite's assets; (3) the relative and absolute
investment performance and operations of Anthracite's manager; (4) the impact of
increased competition; (5) the impact of capital improvement projects; (6) the
impact of future acquisitions and divestitures; (7) the unfavorable resolution
of legal proceedings; (8) the extent and timing of any share repurchases; (9)
the impact, extent and timing of technological changes and the adequacy of
intellectual property protection; (10) the impact of legislative and regulatory
actions and reforms and regulatory, supervisory or enforcement actions of
government agencies relating to Anthracite, BlackRock or PNC; (11) terrorist
activities, which may adversely affect the general economy, real estate,
financial and capital markets, specific industries, and Anthracite and
BlackRock; (12) the ability of Anthracite's manager to attract and retain highly
talented professionals; (13) fluctuations in foreign currency exchange rates;
and (14) the impact of changes to tax legislation and, generally, the tax
position of the Company.

Anthracite's Annual Report on Form 10-K for the year ended December 31, 2005 and
Anthracite's subsequent reports filed with the SEC, accessible on the SEC's
website at www.sec.gov, identify additional factors that can affect
forward-looking statements.

To learn more about Anthracite, visit our website at www.anthracitecapital.com.

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