Farmer Mac raises $100M in Series I preferred stock offering
What's the deal? Federal Agricultural Mortgage Corporation — known as Farmer MacDealroom has a profile for this one. Try Dealroom → (NYSE: AGM) — has completed a $100M offering of 6.875% non-cumulative preferred stock, Series I. The federally chartered corporation provides a secondary market for loans made to borrowers in rural America.
Law firm Willkie advised the underwriters on the exempt public offering, announced on May 28.
The signal: Farmer Mac's mature status and federally chartered mandate position it as a cornerstone of rural American credit infrastructure, yet the 6.875% coupon on this preferred stock suggests it must compete aggressively for capital in today's rate environment. The sizeable raise points to growing financing demands across US agriculture, where access to credit remains a structural challenge that few private-market players are equipped to address at scale.
Read more: willkie.com
