Company: AGM-PH
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0000845877-25-000152
Chunk: 45

Company: FEDERAL AGRICULTURAL MORTGAGE CORP
Filing Date: 2025-05-09
Form: 10-Q
Item: Part I, Item 1
Chunk 45
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 net of discounts$27,520,173 3.51 %  Hedging adjustments(148,999)Total$27,371,174 

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The maximum amount of Farmer Mac's discount notes outstanding at any month end during each of the three months ended March 31, 2025 and 2024 was $2.1 billion and $1.9 billion, respectively.Callable medium-term notes give Farmer Mac the option to redeem the debt at par value on a specified call date 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 March 31, 2025:Table 7.2Debt Callable in 2025 as of March 31, 2025, by MaturityAmountWeighted-Average Rate(dollars in thousands)Maturity:2026$1,512,624 2.16 %2027853,491 2.78 %2028573,260 3.75 %2029353,497 4.25 %Thereafter1,797,394 2.19 % Total$5,090,266 2.60 %The following schedule summarizes the earliest interest rate reset date, or debt maturities, of total borrowings outstanding as of March 31, 2025, 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$10,388,191 3.66 %20265,224,255 2.94 %20273,813,258 3.69 %20282,727,135 4.10 %20292,354,686 4.38 %Thereafter3,542,241 2.98 %Total principal net of discounts$28,049,766 3.55 %During the three months ended March 31, 2025 and 2024, Farmer Mac called $488.5 million and $354.5 million of callable medium-term notes, respectively. Authority