Farmers Edge Announces C$75 Million Loan From Fairfax Financial Holdings Limited
PRIVATEMar 25, 2022
Amount Raised
C$75 Million
Round Type
Debt Financing
WinnipegData And AnalyticsScience And EngineeringAgriculture And Farming
Description
Farmers Edge Inc. (“Farmers Edge” or the “Company”) (TSX: FDGE), a global leader in digital agriculture, today announced that it has entered into a C$75 million secured credit facility (the “Facility”) with Fairfax Financial Holdings Limited and/or certain of its affiliates (collectively, “Fairfax”) pursuant to the terms of a binding term sheet. The Facility will bear interest at a rate of 6% per annum and will mature on January 31, 2025. Farmers Edge will pay an annual commitment fee of 1% of the total undrawn amount, with C$750,000 payable upon closing of the transaction and the next payment being due one year thereafter
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Company Information
Company
Farmers Edge
Location
Winnipeg, Manitoba, Canada
About
Farmers Edge is a global leader in digital agriculture. Our mission is to create the world’s most comprehensive digital platform to empower and connect stakeholders across the ecosystem. We’re passionate about sustainable farming and put innovation at the forefront of everything we do. Together, we’re leading the next agricultural revolution creating intelligent technologies to help farmers and their trusted advisors be more efficient and successful in improving how food is produced and distributed to a rapidly growing global population.
With a network of specialists ranging from Solution Sales Specialists, Precision Technology Specialists, Precision Agronomists and Software Developers, we offer diverse roles that require an in-depth understanding of farming operations and advancing farm technologies. We offer in-house training, competitive salaries, health benefits and opportunities for attractive performance bonuses. Farmers Edge is committed to growing and retaining a diversified and passionate team that supports the fast-growing development and success of the company.
Farmers Edge is a TSX-listed company.
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WinnipegData And AnalyticsScience And EngineeringAgriculture And Farming