Farmer Mac Prices $100 Million of Series H Preferred Stock
Farmer Mac (NYSE: AGM) has announced the pricing of $100 million of Tier 1 capital through a public offering of 6.500% non-cumulative perpetual Series H preferred stock. The preferred stock will have a par value of $25.00 per share and will be listed on the NYSE under the symbol "AGM PRH".
The Series H preferred stock will carry a fixed dividend rate of 6.500% per year, subject to board declaration, with no maturity date. Farmer Mac retains the option to redeem the preferred stock on any dividend payment date after October 17, 2030. The offering is expected to close on August 25, 2025, with RBC Capital Markets serving as the Sole Book-Running Manager.
Farmer Mac (NYSE: AGM) ha comunicato il prezzo di offerta di 100 milioni di dollari di capitale Tier 1 tramite un collocamento pubblico di azioni privilegiate perpetue Serie H non cumulative con dividendo del 6,500%. Le azioni privilegiate avranno un valore nominale di 25,00 $ per azione e saranno quotate al NYSE con il simbolo "AGM PRH".
La Serie H corrisponder脿 un dividendo fisso del 6,500% annuo, soggetto all'approvazione del consiglio, senza scadenza. Farmer Mac potr脿 riscattare queste azioni privilegiate in qualsiasi data di pagamento del dividendo dopo il 17 ottobre 2030. La chiusura dell'offerta 猫 prevista per il 25 agosto 2025, con RBC Capital Markets in qualit脿 di Sole Book-Running Manager.
Farmer Mac (NYSE: AGM) ha anunciado el precio de colocaci贸n de 100 millones de d贸lares de capital Tier 1 mediante una oferta p煤blica de acciones preferentes perpetuas Serie H no acumulativas con un dividendo del 6,500%. Las acciones preferentes tendr谩n un valor nominal de 25,00 $ por acci贸n y cotizar谩n en la NYSE con el s铆mbolo "AGM PRH".
La Serie H pagar谩 un dividendo fijo del 6,500% anual, sujeto a declaraci贸n del consejo, y no tendr谩 vencimiento. Farmer Mac podr谩 redimir las acciones preferentes en cualquier fecha de pago de dividendos despu茅s del 17 de octubre de 2030. Se espera que la operaci贸n se cierre el 25 de agosto de 2025, con RBC Capital Markets como Sole Book-Running Manager.
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鞁滊Μ歃� H 鞖办劆欤嫉鐢 鞚挫偓須� 瓴办爼鞐� 霐半ゴ电� 鞐� 6.500%鞚� 瓿犾爼 氚半嫻毳犾潉 臧�歆�氅� 毵岅赴臧� 鞐嗢姷雼堧嫟. Farmer Mac鞚� 2030雲� 10鞗� 17鞚� 鞚错泟鞚� 鞛勳潣鞚� 氚半嫻 歆�旮夓澕鞐� 鞖办劆欤茧ゼ 靸來櫂頃� 靾� 鞛埖鐢 靹犿儩甓岇潉 氤挫湢頃╇媹雼�. 瓯半灅电� 2025雲� 8鞗� 25鞚�鞐� 毵堦皭霅� 鞓堨爼鞚措┌, 齑濎垬甓� 毂呾瀯鞚� Sole Book-Running Manager搿湹鐢 RBC Capital Markets臧� 彀胳棳頃╇媹雼�.
Farmer Mac (NYSE: AGM) a annonc茅 le prix d'une 茅mission de 100 millions de dollars de capital de Tier 1 via une offre publique d'actions privil茅gi茅es perp茅tuelles non cumulatives de la S茅rie H 脿 6,500%. Les actions privil茅gi茅es auront une valeur nominale de 25,00 $ par action et seront cot茅es 脿 la NYSE sous le symbole 芦 AGM PRH 禄.
La S茅rie H versera un dividende fixe de 6,500% par an, sous r茅serve de la d茅cision du conseil, sans date d'茅ch茅ance. Farmer Mac se r茅serve la possibilit茅 de racheter ces actions privil茅gi茅es 脿 toute date de paiement de dividendes apr猫s le 17 octobre 2030. La cl么ture de l'offre est pr茅vue le 25 ao没t 2025, RBC Capital Markets agissant en tant que Sole Book-Running Manager.
Farmer Mac (NYSE: AGM) hat die Preisfestsetzung f眉r 100 Millionen US-Dollar an Tier-1-Kapital bekannt gegeben, die durch eine 枚ffentliche Platzierung von nicht kumulativen, unbefristeten Vorzugsaktien der Serie H mit 6,500% verzinst werden. Die Vorzugsaktien haben einen Nennwert von 25,00 $ je Aktie und werden an der NYSE unter dem K眉rzel "AGM PRH" notiert.
Die Serie H zahlt eine feste Dividende von 6,500% j盲hrlich, vorbehaltlich eines Beschlusses des Vorstands, und hat kein F盲lligkeitsdatum. Farmer Mac hat das Wahlrecht, die Vorzugsaktien an jedem Dividendenzahlungstermin nach dem 17. Oktober 2030 einzul枚sen. Der Abschluss des Angebots ist f眉r den 25. August 2025 geplant; Sole Book-Running Manager ist RBC Capital Markets.
- None.
- 6.500% dividend rate represents ongoing cost of capital
- New preferred stock issuance may impact existing shareholder returns
Insights
Farmer Mac's $100M preferred stock issuance strengthens its Tier 1 capital position, enhancing financial stability while maintaining dividend flexibility.
Farmer Mac's
This issuance demonstrates Farmer Mac's proactive capital management approach. The redemption option after October 2030 provides long-term capital stability while allowing future flexibility if market conditions change. As a government-sponsored enterprise focused on agricultural financing, maintaining strong capital ratios is crucial for Farmer Mac's lending operations.
The transaction's structure as Tier 1 capital is particularly notable, as it counts toward the highest quality regulatory capital that helps the institution absorb potential losses. This strengthens Farmer Mac's ability to fulfill its mission of providing liquidity to agricultural and rural infrastructure businesses. The
The dividend rate on the new Series H preferred stock will remain at a non-cumulative, fixed rate of
The offering is being made pursuant to an exemption from registration under the Securities Act of 1933, as amended, and is being made solely by means of an offering circular. You may obtain a copy of the offering circular by contacting RBC Capital Markets, LLC, Brookfield Place, 200聽Vesey Street, 8th Floor,
Forward-Looking Statements
In addition to historical information, this release includes forward-looking statements that reflect management's current expectations for the preferred stock offering, Farmer Mac's intended use of the proceeds from the offering and the closing date of the offering. You should pay particular attention to the important risk factors and cautionary statements described tin the "Risk Factors" section of the offering circular that relates to the offering referenced above, as well as the risk factors discussed in Farmer Mac's Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC, on February 21, 2025, and Farmer Mac's Quarterly Report on Form 10-Q for the quarter ended June 30, 2025, as filed with the SEC on August 7, 2025. In light of these potential risks and uncertainties, no undue reliance should be placed on any forward-looking statements expressed in this release. The forward-looking statements contained in this release represent management's expectations as of the date of this release. Farmer Mac undertakes no obligation to release publicly the results of revisions to any forward-looking statements included in the release to reflect new information or any future events or circumstances, except as the SEC otherwise requires.
About Farmer Mac
Farmer Mac is driven by its mission to increase the accessibility of financing to provide vital liquidity for American agriculture and rural infrastructure. Our secondary market provides liquidity to our nation's agricultural and infrastructure businesses, supporting a vibrant and strong rural America. We offer a wide range of solutions to help meet financial institutions' growth, liquidity, risk management, and capital relief needs across diverse markets, including agriculture, agribusiness, broadband infrastructure, power and utilities, and renewable energy. We are uniquely positioned to facilitate competitive access to financing that fuels growth, innovation, and prosperity in America's rural and agricultural communities. Additional information about Farmer Mac is available on our website at
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FAQ
What is the size and dividend rate of Farmer Mac's Series H preferred stock offering?
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