AgriBank to Redeem Preferred Stock on January 1, 2024

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AgriBank (Ticker: AGBK) to Redeem All Series A Non-Cumulative Perpetual Preferred Stock on January 1, 2024

ST. PAUL, Minn., Nov. 13, 2023 /PRNewswire/ -- Today, AgriBank announced that it will redeem all of its issued and outstanding shares of series A non-cumulative perpetual preferred stock, par value $100 per share, on January 1, 2024, in accordance with the terms of the preferred stock. AgriBank will continue to hold capital commensurate with its risk through common stock purchased by AgriBank District Associations and has no intention to issue additional preferred stock in conjunction with this redemption.

The preferred stock will be redeemed at a redemption price of $100 per share in accordance with the terms of the preferred stock. The redemption and paying agent for the redemption is Equiniti Trust Company, LLC.

For more information, holders of the securities may contact Luis Sahmkow, SVP-Treasurer at AgriBank, (651) 282-8765.

About AgriBank

AgriBank is part of the customer-owned, nationwide Farm Credit System. Under Farm Credit's cooperative structure, AgriBank is primarily owned by local Farm Credit Associations, which provide financial products and services to rural communities and agriculture. AgriBank obtains funds and provides funding and financial solutions to those Associations. AgriBank and those Associations comprise the AgriBank District. The District covers a 15-state area stretching from Wyoming to Ohio and Minnesota to Arkansas. For more information, visit www.AgriBank.com.

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SOURCE AgriBank

FAQ

What is AgriBank redeeming?

AgriBank is redeeming all of its issued and outstanding shares of series A non-cumulative perpetual preferred stock.

When will the redemption take place?

The redemption is scheduled for January 1, 2024.

At what price will the preferred stock be redeemed?

The preferred stock will be redeemed at a price of $100 per share.

Who is the redemption and paying agent?

The redemption and paying agent for the redemption is Equiniti Trust Company, LLC.

How can holders of the securities get more information?

Holders of the securities may contact Luis Sahmkow, SVP-Treasurer at AgriBank, (651) 282-8765.