Press Release
| October 2, 2008
Dewey & LeBoeuf Advises Investors on Capital Investment in Farmer Mac
(New York, October 2, 2008) - Dewey & LeBoeuf represented CoBank ACB, which led a group of investors in their equity investment in Federal Agricultural Mortgage Corporation (Farmer Mac).
This transaction allowed Farmer Mac to satisfy its previously announced intent to implement strategies to restore its capital position and to meet regulatory requirements. The additional capital was necessary due in part to impairment charges on Farmer Mac's investments in Fannie Mae preferred stock and Lehman Brothers Holdings Inc. senior debt securities, as previously disclosed.
Farmer Mac is a stockholder-owned instrumentality of the United States chartered by Congress to establish a secondary market for agricultural real estate and rural housing mortgage loans and rural utilities loans and to facilitate capital market funding for USDA-guaranteed farm program and rural development loans.
The Dewey & LeBoeuf team advising the investors consists of partners Morton Pierce, Peter O'Brien and Chang-Do Gong, and associates Robert Chung and Alessandra Chichi.
For more information, please contact your Dewey & LeBoeuf relationship partner, or one of the following:
This memorandum is intended only as a general discussion of these issues. It is not considered to be legal advice. We would be pleased to provide additional details or advice about specific situations. For additional information on this important topic, please feel free to call upon your Dewey & LeBoeuf relationship partner. No part of this publication may be reproduced, in whole or in part, in any form, without our prior written consent.
For further information on Dewey & LeBoeuf, please visit www.dl.com. +1 888 532 6383