On Monday, Rabobank announced they had purchased agricultural loans from the Federal Agricultural Mortgage Corporation in the amount of $354 million. Two of Rabobank Group's U.S. subsidiaries, Rabo AgriFinance and Rabobank N.A. conducted the acquisition of the portfolio.
Rabobank's purchase of this portfolio from Farmer Mac is a clear demonstration of our continued commitment to invest in American agriculture and expand our business," said John Ryan, president and CEO for Rabo AgriFinance. "As a part of the Rabobank Group, we have the resources and flexibility to complete this acquisition, while providing Farmer Mac with added liquidity. This transaction further advances our mission to be a premier agricultural lender in America."
Approximately 1,000 agricultural loans of various sizes and from different lenders were obtained by Rabobank in the transaction. These loans represent a broad spectrum of agriculture throughout the United States.
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