Freddie Mac Announces Results of Tender Offer for Certain STACR Debt Notes
MCLEAN, Va., Feb. 13, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) (the “Company”) today announced the tender results of its previously announced offer to purchase (the “Offer”) any and all of the STACR® (Structured Agency Credit Risk) Debt Notes listed in the table below (the “Notes”).
The Company has conducted the Offer in accordance with the conditions set forth in the Offer to Purchase dated February 6, 2023 (as amended from time to time, the “Offer to Purchase”), the related Notice of Guaranteed Delivery dated February 6, 2023 (the “Notice of Guaranteed Delivery”) and the related Letter of Transmittal dated February 6, 2023 (collectively with the Offer to Purchase and the Notice of Guaranteed Delivery, the “Offer Documents”). Capitalized terms used but not defined in this Press Release have the meanings ascribed to such terms in the Offer Documents.
As of 5 p.m., New York City time, on Friday, February 10, 2023 (the “Expiration Time”), approximately $1.639 billion aggregate original principal amount of the Notes had been validly tendered and not properly withdrawn as set forth in the table below:
| Title of Security | CUSIP Number | ISIN Number | Original Principal Amount | Percentage of Original Principal Amounts Tendered and Accepted1 | Original Principal Amounts Tendered and Accepted | |||
| STACR 2014-DN1 M-3 | 3137G0AM1 | US3137G0AM11 | $408,000,000 | 94.94 | % | $387,373,000 | ||
| STACR 2014-DN2 M-3 | 3137G0AY5 | US3137G0AY58 | $391,000,000 | 87.92 | % | $343,785,000 | ||
| STACR 2015-DN1 B | 3137G0DZ9 | US3137G0DZ96 | $75,000,000 | 92.37 | % | $69,275,000 | ||
| STACR 2016-DNA1 M-3 | 3137G0HW2 | US3137G0HW20 | $367,523,000 | 76.02 | % | $279,401,377 | ||
| STACR 2016-HQA1 M-3 | 3137G0JJ9 | US3137G0JJ90 | $132,095,415 | 100.00 | % | $132,095,415 | ||
| STACR 2017-DNA1 B-1 | 3137G0MX4 | US3137G0MX48 | $120,000,000 | 99.47 | % | $119,361,000 | ||
| STACR 2017-HQA1 B-1 | 3137G0NC9 | US3137G0NC91 | $55,000,000 | 94.84 | % | $52,160,000 | ||
| STACR 2017-DNA2 B-1 | 3137G0PR4 | US3137G0PR43 | $215,000,000 | 73.20 | % | $157,379,667 | ||
| STACR 2017-HQA2 B-1 | 3137G0QN2 | US3137G0QN20 | $112,500,000 | 87.60 | % | $98,545,000 | ||
| Total | $1,639,375,459 | |||||||
1 Rounded to the nearest hundredth of a percent
These are the final results. The settlement date for the Notes tendered and accepted for purchase in the Offer is expected to occur on Tuesday, February 14, 2023.
BofA Securities, Inc. and Wells Fargo Securities, LLC are lead dealer managers, and CastleOak Securities, L.P. is co-dealer manager for the Offer. For additional information regarding the terms of the Offer, please contact BofA Securities, Inc. at (980) 387-3907 or (888) 292-0070 (toll-free); or Wells Fargo Securities, LLC at (704) 410-4756 or (866) 309-6316 (toll free). Requests for the Offer Documents may be directed to Global Bondholder Services Corporation, as tender agent, at (212) 430-3774 or (855) 654-2015 (toll-free), or by email at .
This announcement does not constitute an invitation to participate in the Offer in or from any jurisdiction in or from which, or to or from any person to or from whom, it is unlawful to make such Offer under applicable securities laws or otherwise. The distribution of materials relating to the Offer, and the transactions contemplated by the Offer, may be restricted by law in certain jurisdictions where it is legal to do so. The Offer is void in all jurisdictions where it is prohibited. If materials relating to the Offer come into your possession, you are required by Freddie Mac to inform yourself of and to observe all of these restrictions. The materials relating to the Offer do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that the Offer be made by a licensed broker or dealer and a dealer manager or any affiliate of a dealer manager is a licensed broker or dealer in that jurisdiction, the Offer shall be deemed to be made by the dealer manager or such affiliate on behalf of Freddie Mac in that jurisdiction.
About Freddie Mac Single-Family Credit Risk Transfer
Freddie Mac’s Single-Family Credit Risk Transfer (CRT) programs transfer credit risk away from U.S. taxpayers to global private capital via securities and (re)insurance policies. We founded the GSE Single-Family CRT market when we issued our first Structured Agency Credit Risk (STACR®) notes in July 2013. In November 2013, we introduced our Agency Credit Insurance Structure (ACIS®) program. Today, CRT serves as the primary source of private capital investment in residential mortgage credit. For specific STACR and ACIS transaction data, please visit Clarity Data Intelligence® (Clarity), our CRT data intelligence portal.
About Freddie Mac
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability, affordability and equity in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: | | | | | |
MEDIA CONTACT: Fred Solomon
703-903-3861
