newsfilter
← Latest News
PR Newswire·

Farmer Mac Prices $100 Million of Series I Preferred Stock

AGM
  • Federal Agricultural Mortgage Corporation (Farmer Mac) agreed to issue $100 million of Tier 1 capital via a public offering of 6.875% non-cumulative perpetual Series I preferred stock.
  • The preferred stock has a par value of $25.00 per share & is expected to close on May 19, 2026, subject to customary closing conditions.
  • Farmer Mac intends to use the net proceeds from the sale for general corporate purposes.
  • The new Series I preferred stock will be listed on the New York Stock Exchange under the symbol "AGM PRI."
  • The dividend rate is a fixed 6.875% per year, payable when declared by the Board of Directors, with no maturity date.
  • Farmer Mac holds the option to redeem the preferred stock on any dividend payment date on or after July 17, 2031.
  • Morgan Stanley & Co. LLC served as the Sole Book-Running Manager, while RBC Capital Markets, LLC & Wells Fargo Securities, LLC served as co-managers.
  • The offering is made pursuant to an exemption from registration under the Securities Act of 1933 & is conducted solely by means of an offering circular.
  • Forward-looking statements in the release reflect management's expectations as of May 12, 2026, & include risk factors detailed in the offering circular & prior SEC filings.
  • Farmer Mac's mission focuses on increasing financing accessibility & liquidity for American agriculture & rural infrastructure.