Farmers Edge increases Fairfax credit facility by $6.37 million

Chicago, Nov. 15 – Farmers Edge Inc. announced a $6.37 million increase in its secured credit facility provided by Fairfax Financial Holdings Ltd. and/or certain affiliates, according to a press release.

The additional amount brings the entire facility up to $81.37 million.

The terms on the additional amount are the same as the original credit agreement, including deferred interest at a 6% rate and a maturity date of Jan. 31, 2025.

Proceeds will be used for working capital and general corporate purposes.

It was a related-party transaction.

Farmers Edge, based in Winnipeg, Man., provides proprietary technological innovations, spanning hardware, software, and services for farms.

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