date:Mar 11, 2016
rms in line with movements in Glanbia Ingredients Ireland's (GII) manufacturing milk price, thereby providing farmers with cashflow relief when needed.
With a standard term of eight years, the loans will have a variable interest rate of 3.75% above the monthly Euribor cost of funds (with a Euribor floor of zero) and is subject to underwriting criteria.
The term of the loans could be extended by up to a maximum of a further two years when volatility triggers are enacted.
The fund will be made