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