Formed in November 2008 with the merger of Grainfarmers and Centaur Grain, the Lincolnshire based business handles over 4 million tonnes of grain each year which represents approximately 20% of the UK production. This makes Openfield one of the foremost suppliers of grain in the UK. In addition, Openfield has a large arable inputs business supplying seed and fertiliser to farmers. The business is owned by approximately 2,700 farmers across the UK and transacts, in one way or another, with a further 4,500 UK farmers. It’s customers include Sainsbury's, Warburtons, RHM, Quaker and Molson Coors.

Geldards Associate Solicitor, Holly Walker, advised the Bank on the property aspects of the deal, which was completed within two months of instruction.

Holly said: “We are delighted to have been part of this deal. It was a pleasure to work with Lloyds TSB Corporate Markets to secure funding for such an established and well respected business like Openfield. We advised on complex property and finance documents and we are pleased that completion was achieved within a short time frame.”

Jenny Allen, a solicitor in Geldards Corporate team, advised Lloyds on Openfield’s powers as an Industrial and Provident Society to enter into the funding agreement.

John Haycox, Lloyds TSB Corporate Markets’ Relationship Director said: “Openfield is a fantastic example of a responsibly managed business. The quality of the management team, its forward-planning against risk and the group’s excellent track record were all key to securing funding from the Bank. We are delighted to be working with a first-class business like Openfield.”