McDermott Will & Schulte advises American AgCredit in its $150 million offering of subordinated notes

Global law firm McDermott Will & Schulte represented American AgCredit, a member-owned Farm Credit cooperative, in its issuance of $150 million of subordinated notes into the private capital markets – generating capital to support its mission of serving U.S. agriculture and rural communities.

The subordinated notes bear interest at the rate of 6.75% for the first 10 years and reset quarterly thereafter through maturity in 2041. The proceeds from the offering, together with cash on hand, were used to redeem $200 million of American AgCredit’s outstanding Series A Preferred Stock.

The McDermott team was led by Eric Orsic and Diana Douglas with invaluable assistance from Mandeep Kalra and Kevin Feeley.

Read American AgCredit’s press release.