Farmer Mac priced a $100 million unregistered offering of 6.875% Non-Cumulative Series I Preferred Stock on May 12, 2026, expected to settle on May 19, 2026, for general corporate purposes.
Key takeaways
Priced $100 million (4,000,000 shares) of 6.875% Non-Cumulative Perpetual Preferred Stock, Series I, at $25.00 par/liquidation value per share.
Net proceeds expected at approximately $97 million before expenses.
Offered under Section 3(a)(2) exemption as a Congressionally chartered U.S. instrumentality.
Settlement expected May 19, 2026; redeemable on or after July 17, 2031.
Intended use of proceeds: general corporate purposes.
Expected NYSE listing under symbol 'AGM PRI'; Morgan Stanley as sole book-runner.