Farmer Mac's 6.875% series B preferreds admitted to trading on NYSE

By Tali Rackner

Norfolk, Va., March 28 - Federal Agricultural Mortgage Corp.'s $75 million of 6.875% series B cumulative preferred stock have been admitted for trading on the New York Stock Exchange, according to a notice.

The preferreds trade under the ticker "AGM PRB."

As previously reported, BofA Merrill Lynch acted as bookrunner.

Proceeds may be used to call, or purchase prior to the call date, a portion of the Farm Asset-Linked Capital Securities with a dividend rate that is scheduled to increase to 10.875% percent in March 2015.

Farmer Mac is a Washington, D.C.-based provider of credit in rural America.

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