Banking, finance, and taxes

IPO FILING: American Capital Agency Corp. (AGNC, ACAS)

A newly created firm called American Capital Agency Corp. has filed to come public.  This is a newly-organized Delaware corporation that was formed to invest exclusively in single-family residential mortgage 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. 

American Capital Strategies, Ltd. (NASDAQ: ACAS) has a subsidiary called American Capital Agency Management, LLC, and it will manage the new operations.  This new IPO will trade under the ticker "AGNC" on NASDAQ.  American Capital Strategies will also purchase $50 million of the common stock offering in a private placement.

There are no operations to date, but this lists Citigroup and Merrill Lynch as the two underwriters.  This will trade as a REIT, and it almost has the same ring of some vulture fund type vehicles that have recently been filed.

Jon C. Ogg
March 17, 2008

Credit Card Companies Are Doing Something Nuts

Credit card companies are at war. The biggest issuers are handing out free rewards and benefits to win the best customers.

It’s possible to find cards paying unlimited 1.5%, 2%, and even more today. That’s free money for qualified borrowers, and the type of thing that would be crazy to pass up. Those rewards can add up to thousands of dollars every year in free money, and include other benefits as well.

We’ve assembled some of the best credit cards for users today.  Don’t miss these offers because they won’t be this good forever.

 

Flywheel Publishing has partnered with CardRatings for our coverage of credit card products. Flywheel Publishing and CardRatings may receive a commission from card issuers.

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