Freddie Mac Announces Tender Offer for Any and All of Certain STACR Notes

By klrw460 May 6, 2024

MCLEAN, Va., May 06, 2024 — Freddie Mac (OTCQB: FMCC) today launched a fixed-price cash tender offer to purchase all STACR® (Structured Agency Credit Risk) Notes, as detailed in the provided table, effective from May 6, 2024. The offer includes certain classes of notes from various STACR Trusts, with Freddie Mac being the sole beneficial owner of these trusts.

The tender offer is managed by Nomura Securities International, Inc. and BofA Securities, Inc. as the lead dealer managers, and CastleOak Securities, L.P. as the co-dealer manager. The total payment for the notes accepted will be calculated based on the original principal amount, specific adjustment factors, and tender offer considerations listed, along with accrued and unpaid interest.

This tender offer begins on May 6, 2024, and will close at 5 p.m., New York City time, on May 10, 2024, unless extended. Noteholders can withdraw their submitted notes anytime before the deadline unless further extensions are announced by Freddie Mac.

Noteholders whose notes are accepted for purchase will receive payment of accrued and unpaid interest up to, but not including, the settlement date, expected to be May 14, 2024. Notes tendered via the Guaranteed Delivery Notice and accepted for purchase are slated for settlement on May 16, 2024, with accrued interest paid up to the previous settlement date.

This communication is purely informational and not an offer to purchase or a call for offers. Decisions to tender securities are at the discretion of the holders. The offer is available solely based on the terms outlined in the official Offer Documents.

For further details and access to the Offer Documents, visit Freddie Mac’s website or contact Global Bondholder Services Corporation. The offer is subject to regulatory and jurisdictional limitations and is void where prohibited by law.

Freddie Mac’s Single-Family CRT programs aim to shift credit risk from U.S. taxpayers to global private investors through securities and reinsurance, marking the foundation of the GSE Single-Family CRT market in July 2013 and introducing the Agency Credit Insurance Structure® (ACIS®) program later that year. For detailed data on specific transactions, Freddie Mac’s CRT data portal, Clarity, can be accessed.

For more information, read the original press release from: