Annuncio pubblicitario

Freddie Mac Announces Results of Tender Offer for Certain STACR Notes

Freddie Mac
Freddie Mac

MCLEAN, Va., May 15, 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) Notes listed below (the “Notes”). Certain of the series of Notes subject to the Offer were issued by the STACR trust identified in the table below (each, a “Trust”). Freddie Mac is the holder of the owner certificate issued by each Trust and, as a result, the sole beneficial owner of each Trust.

The Company has conducted the Offer in accordance with the conditions set forth in the Offer to Purchase dated May 8, 2023 (the “Offer to Purchase”) and related Notice of Guaranteed Delivery dated May 8, 2023 (collectively, 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 5:00 p.m., New York City time, on Friday, May 12, 2023 (the “Expiration Time”), approximately $684 million aggregate original principal amount of the Notes had been validly tendered and not properly withdrawn as set forth in the table below: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

STACR Trust (if applicable)

CUSIP Number

ISIN Number

Original Principal Amounts1, 3

Percentage of Original Principal Amounts Tendered and Accepted2, 3

Original Principal Amounts Tendered and Accepted

STACR 2015-DNA3 M-3

N/A

3137G0GW3

US3137G0GW39

$158,804,413

21.10%

$33,508,581

STACR 2016-DNA1 B

N/A

3137G0HZ5

US3137G0HZ50

$36,000,000

0.00%

-

STACR 2016-DNA2 B

N/A

3137G0JZ3

US3137G0JZ33

$36,000,000

0.00%

-

STACR 2016-DNA3 B

N/A

3137G0KV0

US3137G0KV00

$35,000,000

0.00%

-

STACR 2016-DNA4 B

N/A

3137G0LK3

US3137G0LK36

$31,000,000

0.00%

-

STACR 2016-HQA1 B

N/A

3137G0JM2

US3137G0JM20

$25,000,000

0.00%

-

STACR 2016-HQA2 B

N/A

3137G0KK4

US3137G0KK45

$24,000,000

0.00%

-

STACR 2017-DNA3 B-1

N/A

3137G0RJ0

US3137G0RJ09

$200,000,000

52.66%

$105,325,584

STACR 2017-HQA3 B-1

N/A

3137G0SE0

US3137G0SE03

$75,000,000

84.62%

$63,464,826

STACR 2017-HRP1 B-1

N/A

3137G0TF6

US3137G0TF68

$71,058,510

97.19%

$69,058,510

STACR 2017-HRP1 M-2

N/A

3137G0SN0

US3137G0SN02

$59,945,000

78.22%

$46,890,000

STACR 2018-DNA1 B-1

N/A

3137G0UB3

US3137G0UB36

$130,000,000

38.57%

$50,145,347

STACR 2018-DNA2 B-1

Freddie Mac STACR Trust 2018-DNA2

35563TAV3

US35563TAV35

$175,000,000

96.57%

$169,000,000

STACR 2018-HQA1 B-1

N/A

3137G0UX5

US3137G0UX55

$140,000,000

33.11%

$46,350,000

STACR 2018-HQA2 B-1

Freddie Mac STACR Trust 2018-HQA2

35563XBD3

US35563XBD30

$128,000,000

78.37%

$100,313,667

Total

$684,056,515

1 Original principal amounts have been adjusted to reflect reported exchange activity of MAC notes or exchangeable notes into eligible Notes initiated during the tender offer period. Reported exchange activity results are preliminary and are subject to change.
2 Rounded to the nearest hundredth of a percent.
3 For STACR 2017-DNA3 B-1, the original principal amount tendered and accepted includes $6,750,000 expected to be tendered by guaranteed delivery prior to the guaranteed delivery deadline. The guaranteed delivery deadline is 5:00 p.m., New York City time, on Tuesday, May 16, 2023.

ANNUNCIO PUBBLICITARIO

The settlement date for the Notes tendered and accepted for purchase in the Offer is expected to occur on Tuesday, May 16, 2023. Any Notes tendered and accepted for purchase in the Offer using the Notice of Guaranteed Delivery are expected to be purchased on Wednesday, May 17, 2023.

BofA Securities, Inc. and Citigroup Global Markets Inc. are lead dealer managers, and Academy Securities, Inc. 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 Citigroup Global Markets Inc. at (212) 733-6106 or (800) 558-3745 (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 contact@gbsc-usa.com.

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 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, 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: Website | Consumers | Twitter | LinkedIn | Facebook | Instagram | YouTube.

MEDIA CONTACT: Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com