BETHESDA, Md., Feb. 4, 2020 /PRNewswire/ -- AGNC Investment
Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced today that
it has priced a public offering of 20,000,000 depositary shares
with a liquidation preference of $25.00 per share (the "Depositary Shares"), for
gross proceeds of $500 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 6.125% Series F
Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the
"Series F Preferred Stock"). In connection with the offering, the
Company has granted the underwriters an option for 30 days to
purchase up to an additional 3,000,000 Depositary Shares. The
Company intends to apply to list the Depositary Shares on The
Nasdaq Global Select Market under the symbol "AGNCP." The
offering is subject to customary closing conditions and is expected
to close on or about February 11,
2020.
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, BofA Securities, Inc., J.P. Morgan, RBC Capital
Markets, UBS Investment Bank, Goldman Sachs & Co. LLC and
Keefe, Bruyette & Woods, A Stifel Company, are joint
book-running managers for the offering. Citigroup and Credit
Suisse Securities (USA) LLC are
the co-managers 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
180 Varick Street
New York, NY 10014
Attention: Prospectus Department
Or by telephone: (866) 718-1649
Or by email: prospectus@morganstanley.com
BofA Securities, Inc.
NC1-004-03-43
200 North College Street, 3rd Floor
Charlotte, NC 28255-0001
Attention: Prospectus Department
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
Goldman Sachs & Co. LLC
Attention: Prospectus Department
200 West Street
New York, NY 10282
Or by telephone: 866-471-2526
Or by email: prospectus-ny@ny.email.gs.com
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 other 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" of 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
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SOURCE AGNC Investment Corp.