GLADSTONE LAND Corp – Gladstone Land Announces a $75.0 Million Agreement with Farmer Mac (December 17th, 2014)
MCLEAN, Va., December 15, 2014 Gladstone Land Corporation (NASDAQ: LAND) (the “Company”) announced today that it, through one of its wholly-owned subsidiaries, has completed an initial issuance under a secured bond purchase agreement with Federal Agricultural Mortgage Corporation (“Farmer Mac”) that provides for borrowings up to an aggregate principal amount of $75.0 million. The initial issuance of approximately $3.7 million, which is non-amortizing and has a term of five years, will bear interest at a fixed rate of 3.25% per annum throughout its term. Each note issued will be secured by mortgage loans on agricultural real estate owned by the Company, with the notes issued having an aggregate effective loan-to-value ratio of 60% of the underlying agricultural real estate. The Company intends to use the proceeds received through the initial issuance to repay existing debt and for general corporate purposes.
Gladstone Capital Corp – Redemption Agreement (November 22nd, 2010)
This Redemption Agreement (the “Agreement”) is made and entered into as of September 7, 2010, by and between Gladstone Capital Corporation, a Maryland corporation (“Pledgee”), and David Gladstone (“Pledgor”) (each of Pledgee and Pledgor a “Party” and collectively, the “Parties”).