AG RESOURCE MANAGEMENT COMPLETES RENEWAL OF SECURITIZATION FOR AGRICULTURAL FINANCE SECTOR
Fort Worth, Texas, Oct. 29, 2024 (GLOBE NEWSWIRE) — Ag Resource Management (ARM), a pioneer in crop loan finance and one of the nation’s top providers of agricultural lending and risk management services, announced the successful renewal of its variable funding note (“VFN”) financing series, Series 2020-1. The renewal of the $325 million crop loan backed VFN underscores ARM’s ongoing commitment to securing efficient capital that enhances its ability to better serve the financing needs of farmers.
“The past two years have been challenging for agriculture, with net farm income declining. Farmers need alternative finance solutions backed by crop collateral,” said ARM’s Chief Executive Officer, Ralph S. Mason, III. He added, “At ARM, we are here for the farmer in good times and in bad times.”
“Ag Resource Management’s goal has always been to keep farmers farming. It is a privilege for ARM to create debt capital market solutions that allow ARM to connect and partner with farmers across the country while also addressing the needs of the investor community,” said Jesse Watson, Chairman of the Board at ARM.
“We are pleased to continue to support the ARM team in their mission to provide debt solutions to the American farmer,” said Joe Weingarten, Managing Director of Structured Finance with East West Bank, the lead lender and Administrative Agent for the facility.
The VFN has not been, and will not be, registered under the Securities Act of 1933, as amended, or any state securities laws. This press release does not constitute an offer to sell or the solicitation of an offer to buy any notes issued by an ARM entity or any security.
About Ag Resource Management
Founded in 2009, Ag Resource Management (ARM) is a specialty finance company bringing financial and risk management solutions to farmers and agribusinesses. We combine our knowledge of crop agriculture, finance and crop insurance with proprietary lending technology to build a customized strategy for every farming operation. ARM is headquartered in Fort Worth, Texas, and it serves farmers from 20 field locations in 17 states.
About East West Bank
East West provides financial services that help customers reach further and connect to new opportunities. East West Bancorp, Inc. is a public company (Nasdaq: “EWBC”) with total assets of $74.5 billion as of September 30, 2024. The Company’s wholly-owned subsidiary, East West Bank, is the largest independent bank headquartered in Southern California, and operates over 110 locations in the United States and Asia. The Bank’s markets in the United States include California, Georgia, Illinois, Massachusetts, Nevada, New York, Texas, and Washington. For more information on East West, visit www.eastwestbank.com.
CONTACT: Justin Shannon Ag Resource Management 6823485471 [email protected]
