Barnes funds $100 million; Portland General sells $100 million; Farmland prices new bonds

By Lisa Kerner

Charlotte, N.C., Oct. 17 – Barnes Group Inc. completed funding its previously announced agreement to sell $100 million of 3.97% senior notes due Oct. 17, 2024 to New York Life Insurance Co., New York Life Insurance and Annuity Corp. and New York Life Insurance and Annuity Corp. Institutionally Owned Life Insurance Separate Account (BOLI 30C).

The notes will pay interest semiannually on April 17 and Oct. 17 of each year, according to an 8-K filing with the Securities and Exchange Commission.

Barnes Group is a Bristol, Conn.-based aerospace and industrial manufacturing and service provider.

Portland General Electric Co. funded $100 million of 4.44% first mortgage bonds due 2046 on Wednesday, an SEC filing stated.

On May 29 the company announced it agreed to sell $280 million of its first mortgage bonds to institutional buyers in a private placement in three tranches in a delayed draw.

The Portland, Ore.-based energy provider issued $100 million of 4.39% first mortgage bonds due 2045 on Aug. 15 and will fund $80 million of 3.51% bonds on Nov. 17.

Farmland Partners Inc. expanded its secured note purchase facility with the Federal Agricultural Mortgage Corp. to $75 million from $30 million and priced a $5.46 million, three-year, interest-only bond at 2.35% under the Farmer Mac facility, according to a company news release.

Denver-based Farmland Partners is a real estate investment trust that owns and acquires row crop farmland.

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