Company: AGM-PH
Filing Date: 2025-02-21
Form Type: 10-K
Source: 0000845877-25-000033
Chunk: 55

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-02-21
Form: 10-K
Item: Item 8
Chunk 55
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 or at any time on or after a specified call date. The following table summarizes by maturity date the amounts and costs for Farmer Mac debt callable in 2025 as of December 31, 2024:Table 7.2Debt Callable in 2025 as of December 31, 2024, by MaturityAmountWeighted-Average Rate(dollars in thousands)Maturity:2026$1,522,550 2.20 %2027909,401 2.94 %2028588,198 3.80 %2029415,862 4.42 %Thereafter1,827,209 2.25 % Total$5,263,220 2.70 %The following schedule summarizes the earliest interest rate reset date, or debt maturities, of total borrowings outstanding as of December 31, 2024, including callable and non-callable medium-term notes, assuming callable notes are redeemed at the initial call date:Table 7.3Earliest Interest Rate Reset Date, or Debt Maturities, of Borrowings OutstandingAmountWeighted-Average Rate  (dollars in thousands)Debt with interest rate resets, or debt maturities in:  2025$11,933,596 3.91 %20264,366,691 2.43 %20273,494,164 3.41 %20282,490,159 4.06 %20292,324,985 4.38 %Thereafter2,910,578 2.42 %Total principal net of discounts$27,520,173 3.51 %During the years ended December 31, 2024 and 2023, Farmer Mac called $1.9 billion and $233.0 million of callable medium-term notes, respectively. Authority to Borrow from the U.S. TreasuryFarmer Mac's statutory charter authorizes it, upon satisfying certain conditions, to borrow up to $1.5 billion from the U.S. Treasury through the issuance of debt obligations to the U.S. Treasury. Any funds borrowed from the U.S. Treasury may be used solely to fulfill Farmer Mac's guarantee obligations. Any debt obligations issued by Farmer Mac under this authority would bear interest at a rate determined by the U.S. Treasury, taking into consideration the average rate on outstanding market