$475 Million of 3-Year Farmer Mac Guaranteed Notes Offered
15 August 2008 - 7:02AM
PR Newswire (US)
WASHINGTON, Aug. 14 /PRNewswire-FirstCall/ -- The Federal
Agricultural Mortgage Corporation (Farmer Mac, NYSE: AGM and
AGM.A), announced today the offering of $475 million of 3-year
maturity Notes to be guaranteed by Farmer Mac. The Notes will be an
obligation of M&I Marshall & Ilsley Bank, collateralized by
Farmer Mac-eligible agricultural real estate mortgage loans. Farmer
Mac will fully and unconditionally guarantee the timely payment of
interest and principal on the Notes. The Notes are expected to be
rated "Aaa" by Moody's Investors Service, Inc. and "AAA" by DBRS,
Inc. This press release does not constitute an offer to sell, or
the solicitation of an offer to buy, nor shall there be any sale of
the Notes in any jurisdiction in which such offer, solicitation or
sale would be unlawful. Farmer Mac is a stockholder-owned
instrumentality of the United States chartered by Congress to
establish a secondary market for agricultural real estate and rural
housing mortgage loans and rural utilities loans and to facilitate
capital market funding for USDA-guaranteed farm program and rural
development loans. Farmer Mac's Class C non-voting and Class A
voting common stocks are listed on the New York Stock Exchange
under the symbols AGM and AGM.A, respectively. Additional
information about Farmer Mac is available on Farmer Mac's website
at http://www.farmermac.com/. DATASOURCE: Farmer Mac CONTACT: Mary
K. Waters of Farmer Mac, +1-202-872-7700 Web site:
http://www.farmermac.com/
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