BETHESDA, Md., May 5, 2014 /PRNewswire/ -- American
Capital Agency Corp. (NASDAQ: AGNC) ("AGNC" or the "Company")
announced today that it has commenced an underwritten public
offering of its depositary shares (the "Depositary Shares"), each
representing a 1/1,000th interest in a share of the
Company's Series B Cumulative Redeemable Preferred
Stock. The Company has applied to list the Depositary
Shares on the NASDAQ Global Select Market under the symbol
"AGNCB".
AGNC expects to use the net proceeds from this offering, in
conjunction with borrowings under its master repurchase agreements,
to acquire additional agency securities as market conditions
warrant and for general corporate purposes.
Morgan Stanley & Co. LLC and UBS Securities LLC are joint
book-running managers for the offering. Citigroup Global
Markets Inc., Deutsche Bank Securities Inc. and RBC Capital
Markets, LLC are joint lead managers. Barclays Capital Inc.,
Credit Suisse Securities (USA)
LLC, J.P. Morgan Securities LLC, Maxim Group LLC, Sterne, Agee
& Leach, Inc. and Wunderlich Securities, Inc. are co-managers
for the offering.
The offering will be made pursuant to AGNC's existing effective
shelf registration statement, previously filed with the Securities
and Exchange Commission. The offering of these securities will be
made only by means of a prospectus and a related preliminary
prospectus supplement, when available. Copies of the
prospectus and preliminary prospectus supplement, when available,
may be obtained from Morgan Stanley & Co. LLC Attention:
Prospectus Department, 180 Varick Street, 2nd Floor, New York, NY 10014, telephone: (866) 718-1649,
email: prospectus@morganstanley.com; or UBS Securities LLC, 299
Park Avenue, New York, NY 10171,
Attn: Prospectus Department, telephone: 1-877-827-6444, ext. 561
3884.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy shares of preferred stock, 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 AMERICAN CAPITAL AGENCY CORP.
American Capital
Agency Corp. is a real estate investment trust that invests in
agency pass-through securities and collateralized mortgage
obligations for which the principal and interest payments are
guaranteed by a U.S. Government agency or a U.S.
Government-sponsored entity. The Company is externally managed and
advised by American Capital AGNC Management, LLC, an affiliate of
American Capital, Ltd. ("American Capital").
ABOUT AMERICAN CAPITAL
American Capital, Ltd. (NASDAQ:
ACAS) is a publicly traded private equity firm and global asset
manager. American Capital, both directly and through its
asset management business, originates, underwrites and manages
investments in middle market private equity, leveraged finance,
real estate, energy & infrastructure and structured
products. American Capital manages $19
billion of assets, including assets on its balance sheet and
fee earning assets under management by affiliated managers, with
$93 billion of total assets under
management (including levered assets).
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
Securities and Exchange Commission ("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:
Investors – (301) 968-9300
SOURCE American Capital Agency Corp.