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American Capital Agency Corp. Message Board

  • b1g_brothr b1g_brothr Feb 11, 2013 5:58 PM Flag

    MTGE Announce SPO

    American Capital Mortgage announces public offering of 2.7 mln shares of common stock (MTGE) 26.57 +1.12 : Co expects to use the net proceeds from this offering to invest, as market conditions warrant, in its targeted assets, which include agency mortgage investments, non-agency mortgage investments and other mortgage-related investments. Barclays, Citigroup, Credit Suisse Securities (USA) LLC, Morgan Stanley and Wells Fargo Securities are joint book-running managers for the offering. JMP Securities LLC and Keefe, Bruyette & Woods, Inc. are the co-lead managers for the offering. Maxim Group LLC and Wunderlich Securities are the co-managers for the offering.

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    • yourbestfriendintheworld yourbestfriendintheworld Feb 12, 2013 12:12 PM Flag

      AGNC could do the same. Although since MTGE is not an agency-only mREIT, the money could be for non-Agency purchases, a market the Fed isn't keeping expensive. So the likelihood of an AGNC SPO is a bit lower.

      • 1 Reply to yourbestfriendintheworld
      • YBF wrote: "AGNC could do the same. Although since MTGE is not an agency-only mREIT, the money could be for non-Agency purchases, a market the Fed isn't keeping expensive. So the likelihood of an AGNC SPO is a bit lower."

        Gary made this comment in the MTGE call yesterday:

        "You know, look, you bring up a very good point, which is in a sense the backdrop right now for non-agencies is good, with strong fundamentals and good technicals. And so I don’t want to imply that we’re bearish on non-agencies. "

        I think what I was implying by that statement is that in the short run, agencies have definitely cheapened up, and they’ve cheapened up a little more this quarter. And so at this point, when you factor in the spreads that can be achieved, even assuming conservative funding levels in the dollar roll market, you’re looking at current ROEs there that are better."

        That tells you that the MTGE is using the SPO for Gary's new favorite thing, the dollar roll market, the same thing he said AGNC was doing on their call.

    • thanks for the heads up, I put my stink bids in

    • Actually, the numbers are...

      BETHESDA, Md., Feb. 11, 2013 /PRNewswire/ -- American Capital Mortgage Investment Corp. (Nasdaq: MTGE) ("MTGE" or the "Company") announced today that it plans to make a public offering of 18,000,000 shares of its common stock. In connection with the offering, the Company intends to grant the underwriters an option for 30 days to purchase up to an additional 2,700,000 shares of common stock.

      MTGE expects to use the net proceeds from this offering to invest, as market conditions warrant, in its targeted assets, which include agency mortgage investments, non-agency mortgage American Capital Mortgage Investment Corp. Announces Public Offering Of Common Stock

 
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19.51+0.14(+0.72%)Jun 28 4:00 PMEDT