Farmer Mac to redeem all $57.6 million of preferreds via new offering

By Tali David

Minneapolis, Jan. 14 - The Federal Agricultural Mortgage Corp. plans to use the proceeds of its preferred stock offering to redeem and retire all $57.6 million of its currently issued and outstanding series C cumulative preferred stock, according to a press release.

The preferred stock offering priced Monday and is expected to settle Thursday.

Farmer Mac is a Washington, D.C.-based provider of financing for agricultural real estate and rural housing loans and liquidity to agricultural and rural housing lenders.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.