By Lisa Kerner
Charlotte, N.C., April 13 – Farmland Partners Inc. issued an $11.2 million 10-year interest-only bond with a fixed interest rate of 3.68%.
The bond was issued under the company’s previously announced $150 million secured note purchase facility with the Federal Agricultural Mortgage Corp.
With the latest issue, Farmland brings the total principal amount outstanding under the Farmer Mac facility to $107.2 million, according to a news release.
In December, Farmland announced it expanded its Farmer Mac secured note purchase facility to $150 million from $75 million.
Denver-based Farmland Partners is a real estate investment trust that owns and acquires row crop farmland.
| Issuer: | Farmland Partners Inc.
|
| Issue: | Interest-only bond
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| Amount: | $11.2 million
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| Coupon: | 3.68%
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| Maturity: | 10 years
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| Purchaser: | Federal Agricultural Mortgage Corp.
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| Distribution: | Private placement
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