AFC Holdings says it intends to raise $2,5 billion through the issuance of Agro-Bills to finance the 2022/23 winter cropping season.
In a statement this week, the agricultural lender said the Bills will have a tenor of 270 and 360 days and will be in multiples of $500 000 and $1 000 000.
The lender said a capital plus accrued interest rate will be paid upon as a bullet on maturity.
The Bills have special features such as prescribed asset status, liquid asset status, tax exemption, government guarantee and AFC Holdings financial guarantee. – Staff Writer