Freddie Mac updates tender offer results for certain
MCLEAN, Va., Aug. 11, 2022 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) (the “Company”) today updated the tender results of its previously announced bid to any or all of the STACR® (Structured Agency Credit Risk) debt securities listed below (the “Securities”).
The Company has made the Offer in accordance with the terms set out in the Tender Offer dated August 2, 2022 (supplemented by Supplement No. 1, dated August 2, 2022, the “Tender Offer”) and the related Notice of Guaranteed Delivery. dated August 2, 2022 (collectively, the “Offer Documents”). Capitalized terms used but not defined in this press release have the meanings given to them in the Offer Documents.
As of 5:00 p.m., New York City time, on Wednesday, August 10, 2022 (the “Guaranteed Delivery Deadline”), approximately $2,456 million in aggregate original principal amount of the Notes had been validly tendered and had not not been properly removed. Accordingly, Freddie Mac has updated the results as shown in the table below:
|security title||CUSIP number||ISIN number||Initial capital amounts1||Percentage of initial principal amounts tendered and accepted2||Original principal amounts offered and accepted3|
|STACR 2014-DN3 M-3||3137G0BK4||US3137G0BK46||$||320,000,000||63.26||%||$||202 417 188|
|STACR 2014-DN4 M-3||3137G0CU1||US3137G0CU19||$||312,000,000||54.41||%||$||169 764 477|
|STACR 2014-HQ2 M-3||3137G0CH0||US3137G0CH08||$||74,378,952||1:15 p.m.||%||$||9,778,626|
|STACR 2015-HQ2 M-3||3137G0FJ3||US3137G0FJ37||$||95,000,000||59.96||%||$||56,961,000|
|STACR 2015-HQA1 M-3||3137G0GJ2||US3137G0GJ28||$||120,788,000||37:30||%||$||45,048,469|
|STACR 2015-DNA3 M-3||3137G0GW3||US3137G0GW39||$||262,586,000||39.52||%||$||103 781 587|
|STACR 2015-HQA2 M-3||3137G0HJ1||US3137G0HJ19||$||92 800 077||50.76||%||$||47 105 511|
|STACR 2016-HQA1 M-3||3137G0JJ9||US3137G0JJ90||$||217 529 411||39.27||%||$||85,433,996|
|STACR 2016-DNA2 M-3||3137G0JU4||US3137G0JU46||$||458,898,000||74.84||%||$||343,439,000|
|STACR 2016-HQA2 M-3||3137G0KE8||US3137G0KE84||$||224 208 400||74.68||%||$||167,448,200|
|STACR 2016-DNA3 M-3||3137G0KQ1||US3137G0KQ15||$||245 167 829||51.75||%||$||126 885 245|
|STACR 2016-DNA4 M-3||3137G0LJ6||US3137G0LJ62||$||133 160 580||36.40||%||$||48,467,225|
|STACR 2017-DNA1 M-2||3137G0MD8||US3137G0MD83||$||56 150 615||33.88||%||$||19,023,500|
|STACR 2017-HQA1 M-2||3137G0NE5||US3137G0NE57||$||248 734 197||71.22||%||$||177 157 386|
|STACR 2017-DNA2 M-2||3137G0NX3||US3137G0NX39||$||197 356 753||99.49||%||$||196 356 753|
|STACR 2017-HQA2 M-2||3137G0PU7||US3137G0PU71||$||182 505 321||97.97||%||$||178 805 321|
|STACR 2017-DNA3 M-2||3137G0QQ5||US3137G0QQ50||$||42,896,976||94.59||%||$||40,576,974|
|STACR 2017-HQA3 M-2||3137G0RL5||US3137G0RL54||$||80 403 206||18.05||%||$||14,515,000|
|STACR 2018-DNA1 M-2||3137G0TH2||US3137G0TH25||$||33,827,983||10.27||%||$||3,472,983|
|STACR 2018-HQA1 M-2||3137G0UD9||US3137G0UD91||$||616,500,000||68.08||%||$||419 737 121|
1 Initial Principal Amounts have been adjusted to reflect reported trading activity of MAC Notes or any Initial Notes not identified as “Notes” in connection with the offer to purchase such “Notes” initiated during the tender offer period. The results of trading activities reported are final.
2 Rounded to the nearest hundredth of a percent.
3 For STACR 2016-HQA1 M-3, the initial amount of principal submitted and accepted includes $18,076,910 submitted by guaranteed delivery before the guaranteed delivery deadline. The guaranteed delivery deadline was 5:00 p.m. on Wednesday, August 10, 2022.
BofA Securities, Inc. and Wells Fargo Securities, LLC are lead managers and Academy Securities, Inc. is co-lead manager of the Offer. For further 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 offering documents may be directed to Global Bondholder Services Corporation, as Tenders Agent, at (212) 430-3774 or (855) 654-2015 (toll-free), or by e-mail at [email protected]
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 any materials relating to the Offer come into your possession, you are required by Freddie Mac to inform you of and to observe all such restrictions. The Offer Materials do not constitute, and may not be used in connection with, an offer or solicitation in any location where offers or solicitations are not permitted by law. If a jurisdiction requires the offer to be made by a licensed broker or dealer and a broker-manager or any affiliate of a broker-manager is a licensed broker or dealer in that jurisdiction, the offer will be deemed have been made by the broker-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 CRT the programs transfer credit risk from US taxpayers to global private capital through securities and (re)insurance policies. We founded the GSE Single-Family CRT market when we published our first Structured Agency Credit Risk (STACR®) note in July 2013. In November 2013, we launched our Agency Credit Insurance Structure® (ACIS®) program. Today, CRT is the primary source of private capital investment in residential mortgage lending. For specific STACR and ACIS transaction data, please visit Clarityour CRT data intelligence portal.
About Freddie Mac
Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our founding by Congress in 1970, we have made housing more accessible and affordable for buyers and renters in communities nationwide. We are building a better housing finance system for buyers, renters, lenders, investors and ratepayers. Learn more about FreddieMac.comTwitter @FreddieMac, and Freddie Mac’s blog FreddieMac.com/blog.
MEDIA CONTACT: Fred Salomon