BETHESDA, Md., Feb. 27, 2019 /PRNewswire/ -- AGNC Investment
Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced today that
it has priced a public offering of 9,000,000 depositary shares with
a liquidation preference of $25.00
per share (the "Depositary Shares"), for gross proceeds of
$225 million before deducting
underwriting discounts and other estimated offering expenses. Each
Depositary Share represents a 1/1,000th interest in a
share of the Company's 6.875% Series D Fixed-to-Floating Rate
Cumulative Redeemable Preferred Stock (the "Series D Preferred
Stock"). In connection with the offering, the Company has granted
the underwriters an option for 30 days to purchase up to an
additional 1,350,000 Depositary Shares. The Company intends to
apply to list the Depositary Shares on The Nasdaq Global Select
Market under the symbol "AGNCM." The offering is subject to
customary closing conditions and is expected to close on or about
March 6, 2019.
AGNC intends to use the net proceeds from this offering to
finance the acquisition of Agency securities, non-Agency securities
(including credit risk transfer securities), other real
estate-related assets and hedging instruments, other investments
in, or related to the housing, mortgage or real estate markets, and
for other general corporate purposes.
Morgan Stanley, Merrill Lynch, Pierce, Fenner & Smith
Incorporated, J.P. Morgan, RBC Capital Markets, UBS Investment Bank
and Keefe, Bruyette & Woods, A Stifel Company, are joint
book-running managers for the offering. Citigroup is the
co-manager for the offering.
The offering is being made pursuant to AGNC's existing effective
shelf registration statement on Form S-3, previously filed with the
Securities and Exchange Commission (the "SEC"). A preliminary
prospectus supplement relating to this offering has been, and a
final prospectus supplement related to this offering will be, filed
with the SEC, and each will be available on the SEC's website at
www.sec.gov. Copies of the preliminary and final prospectus
supplements relating to this offering may be obtained, when
available, by contacting:
Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick Street
2nd Floor
New York, NY 10014
Merrill Lynch, Pierce, Fenner & Smith
Incorporated
Attention: Prospectus Department
200 North College Street
3rd Floor
Charlotte, NC 28255-0001
Or by telephone: 800-294-1322
Or by email: dg.prospectus_requests@baml.com
J.P. Morgan Securities LLC
Attention: Investment Grade Syndicate Desk
383 Madison Avenue
New York, NY 10179
Or by telephone: 212-834-4533
RBC Capital Markets, LLC
Attention: Transaction Management
200 Vesey Street
8th Floor
New York, NY 10281-8098
Or by telephone: 866-375-6829
Or by email: rbcnyfixedincomeprospectus@rbccm.com
UBS Securities LLC
Attention: Prospectus Department
1285 Avenue of the Americas
New York, NY 10019
Or by telephone: 888-827-7275
Keefe, Bruyette & Woods, Inc.
Attention: Capital Markets
787 Seventh Avenue
4th Floor
New York, NY 10019
Or by telephone: 800-966-1559
This press release does not constitute an offer to sell or the
solicitation of an offer to buy these securities, nor shall there
be any sale of these securities in any state or jurisdiction in
which such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
state or jurisdiction.
ABOUT AGNC INVESTMENT CORP.
AGNC Investment Corp. is
an internally-managed real estate investment trust that invests
primarily in residential mortgage-backed securities for which the
principal and interest payments are guaranteed by a U.S.
Government-sponsored enterprise or a U.S. Government agency.
FORWARD-LOOKING STATEMENTS
This press release contains
statements that constitute "forward-looking statements," including
with regard to the size, completion and timing of the Company's
securities offering and the anticipated use of the net proceeds.
These statements are made pursuant to the safe harbor provisions of
the Private Securities Litigation Reform Act of 1995. There can be
no assurance that the securities offering discussed above will be
completed on the anticipated terms described, or at all, or that
the net proceeds of the offering will be used as indicated.
Completion of the securities offering on the terms described, and
the application of net proceeds, are subject to numerous
conditions, many of which are beyond the control of the Company,
including, without limitation, changes in interest rates; changes
in the yield curve; changes in prepayment rates; the availability
and terms of financing; changes in the market value of our assets;
general economic conditions; market conditions; conditions in the
market for agency securities; legislative and regulatory changes
that could adversely affect the business of the Company; and other
factors, including those set forth in the section titled "Risk
Factors" in the prospectus supplements related to this offering,
the Company's Annual Report on Form 10-K for the year ended
December 31, 2018 and other periodic
reports and documents filed with the SEC. Copies are available on
the SEC's website, www.sec.gov. The Company undertakes no
obligation to update these statements for revisions or changes
after the date of this release.
CONTACT:
Investor Relations - (301) 968-9300
View original
content:http://www.prnewswire.com/news-releases/agnc-investment-corp-announces-pricing-of-public-offering-of-depositary-shares-300803722.html
SOURCE AGNC Investment Corp.