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
Total $ 2,456,175,562

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

[email protected]

Source link

Comments are closed.