Major US Farming Co places $50 million with Metropolitan Life

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A major US farming company (undisclosed) has placed $50 million of ten-year senior notes with Metropolitan Life Insurance Company

Kerlin was engaged by a major US farming company (undisclosed) to evaluate the capital structure for this privately held company. Previously, the company had relied exclusively on bank debt for its capital needs. Kerlin worked with management and the company’s Board of Directors to design a capital plan to diversify the company’s sources of capital. Kerlin designed a marketing plan to approach a selected group of institutional investors, developed several potential lenders and ultimately, following a competitive process, the company selected Metropolitan Life to provide $50 million of ten-year senior notes.