BETHESDA, Md., Aug. 15, 2017 /PRNewswire/ -- AGNC Investment
Corp. (Nasdaq: AGNC) ("AGNC" or the "Company") announced today that
it has priced a public offering of 12,000,000 depositary shares
with a liquidation preference of $25.00 per share (the "Depositary Shares"), for
gross proceeds of $300 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 7.00% Series C
Fixed-to-Floating Rate Cumulative Redeemable Preferred Stock (the
"Series C Preferred Stock"). In connection with the offering, the
Company has granted the underwriters an option for 30 days to
purchase up to an additional 1,800,000 Depositary Shares. The
Company intends to apply to list the Depositary Shares on the
NASDAQ Global Select Market under the symbol "AGNCN." The
offering is subject to customary closing conditions and is expected
to close on or about August 22,
2017.
AGNC intends to use the net proceeds from this offering to
redeem all of its outstanding 8.000% Series A Cumulative Redeemable
Preferred Stock. AGNC intends to use the remaining net proceeds
from this offering to finance the acquisition of Agency securities,
non-Agency securities (including credit risk transfer securities),
other mortgage-related assets and hedging instruments and for
general corporate purposes.
Morgan Stanley, BofA Merrill Lynch, UBS Investment Bank, J.P.
Morgan, RBC Capital Markets, and Keefe, Bruyette & Woods, A
Stifel Company, are joint book-running managers for the
offering. Citigroup and Credit Suisse are co-managers for the
offering.
The offering is being made pursuant to AGNC's existing effective
shelf registration statement, previously filed with the Securities
and Exchange Commission, or the SEC. The offering of these
securities will be made only by means of a prospectus and a related
prospectus supplement, when available. Copies of the
prospectus and prospectus supplement may be obtained by
contacting:
Morgan Stanley & Co. LLC
Attention: Prospectus Department
180 Varick St
2nd Floor
New York, NY 10014
Or by telephone: 866-718-1649
BofA Merrill Lynch
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
UBS Securities LLC
Attention: Prospectus Department
1285 Avenue of the Americas
New York, NY 10019
Or by telephone: 888-827-7275
J.P. Morgan
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
Keefe, Bruyette & Woods, Inc.
Attention: Debt 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 the Depositary Shares, nor shall
there be any sale of these securities in any jurisdiction in which
such offer, solicitation or sale would be unlawful prior to
registration or qualification under the securities laws of any such
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
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.
No assurance can be given that the securities offering discussed
above will be completed on the 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 Risk Factors section of
the Company's periodic reports and other 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.