The cooperative, which ranks as the fifth-largest association in the nationwide Farm Credit System, utilized the proceeds alongside existing cash reserves to redeem $200 million in outstanding Series A Preferred Stock. The new notes carry a 6.75% interest rate for the initial decade, with a quarterly reset mechanism following that period until the 2041 maturity date.

President and CEO Curt Hudnutt stated that the transaction reinforces the financial foundation necessary to support a diverse client base spanning sectors from dairy and beef to vineyards and forest products. By refining its balance sheet, the firm aims to maintain consistent support for agricultural operations across its seven-state footprint. Piper Sandler & Co. served as the sole initial purchaser, with legal counsel provided by McDermott Will & Emery and Dorsey & Whitney, LLP.