Farmers Edge increases Farifax credit facility to $93.37 million

By Marisa Wong

Los Angeles, Jan. 22 – Farmers Edge Inc. said it entered into an amendment to its secured credit facility with Fairfax Financial Holdings Ltd. and/or some of its affiliates to increase the facility by $12 million to an aggregate principal amount of $93.37 million.

The increased amount was extended on the same terms as the rest of the facility, including a deferred interest rate of 6% per annum and a maturity date of Jan. 31, 2025, according to a press release.

The net proceeds of the increase will be used for working capital and general corporate purposes.

Based in Winnipeg, Man., Farmers Edge provides proprietary technology, spanning hardware, software and services for farms.

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