Our site runs on donations to keep it running for free. Please consider donating if you enjoy your experience here!

Federal Agricultural Mortgage (Farmer Mac) to Sell New Preferred–Ticker Update

UPDATE–the OTC Grey market ticker will be FAMCP with the permanent ticker AGM-E

Agricultural lender, Federal Agricultural Mortgage (AGM) has announced a new offering of preferred stock.

The issue will have a fixed rate coupon of 5.75%, will be non-cumulative and will have the typical optional redemption available to the company beginning 7/2025. They will sell 3 million shares and there will be an additional 450,000 available for over allotment.

The issue is unrated.

AGM currently has 3 other issues outstanding which can be seen here.

The company press release can be read here.

I will post further information once the filing hits–the company is exempt from filing of the typical prospectuses and final pricing documents.

Leave a Reply

Your email address will not be published. Required fields are marked *