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Farmland Partners Inc.
FPI (the "Company") today announced the issuance of a $14.9 million, 10-year, interest-only bond with a fixed interest rate of 3.69%. The bond will be issued under the Company's $150 million secured note purchase facility (the "Farmer Mac Facility") with the Federal Agricultural Mortgage Corporation
AGM ("Farmer Mac"), bringing the total principal amount outstanding under the Farmer Mac Facility to $96.0 million.
"This 10-year bond will begin to extend the average maturity of our debt and provide us with capital for additional acquisitions," said Paul Pittman, CEO of Farmland Partners Inc.
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