The Federal Agricultural Mortgage Corp. and the National Rural Utilities Cooperative Finance Corp. have announced the sale of $400 million of five-year notes secured by National Rural to Farmer Mac. The notes are secured by mortgage debt issued by rural electric distribution cooperatives that are members of National Rural, a not-for-profit finance cooperative. Farmer Mac, a congressionally chartered corporation that provides a secondary market for rural housing and agriculture-related mortgage debt, said the deal provides National Rural with greater liquidity for its rural utility cooperative members and advances Farmer Mac's role as an investor in rural America. The organizations can be found online at http://www.farmermac.com and http://www.nrucfc.coop.
Farmer Mac Enters $400M Note Deal
Published March 28, 2008, 1:00 p.m. EDT
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