By Lisa Kerner
Charlotte, N.C., Sept. 3 - Farm Credit Bank of Texas announced it issued $300 million of perpetual noncumulative preferred stock on Aug. 26.
The placement agents were Barclays Capital Inc. and Bank of America Merrill Lynch.
"Our latest stock issuance will further strengthen Farm Credit Bank of Texas' already-strong capital position and increase our risk-bearing capacity, while allowing us to pursue business opportunities as they arise," chief executive officer Larry Doyle said in a news release.
The Austin, Texas-based bank is part of the $213 billion Farm Credit System, a network of rural financial cooperatives.
| Issuer: | Farm Credit Bank of Texas
|
| Issue: | Perpetual noncumulative preferred stock
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| Amount: | $300 million
|
| Agents: | Barclays Capital Inc. and Bank of America Merrill Lynch
|
| Settlement date: | Aug. 26
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