Freddie Mac Announces Results of Tender Offer for Certain STACR Notes

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Freddie Mac announced the results of its tender offer for certain STACR Notes, with approximately $1.7 billion aggregate original principal amount of the Notes being validly tendered and not withdrawn. The Offer was conducted in accordance with the Offer Documents, with Nomura Securities International, Inc. and BofA Securities, Inc. as lead dealer managers. The Settlement Date for the Notes is expected on May 14, 2024.

MCLEAN, Va., May 13, 2024 (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 in the table below (the “Notes”). Certain of the classes of Notes subject to the Offer were issued by the STACR trusts 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 6, 2024 (the “Offer to Purchase”) and related Notice of Guaranteed Delivery dated May 6, 2024 (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 10, 2024 (the “Expiration Time”), approximately $1.7 billion aggregate original principal amount of the Notes had been validly tendered and not properly withdrawn as set forth in the table below: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	STACR Trust (if applicable)	CUSIP Number (U.S. / Regulation S)	ISIN Number (U.S. / Regulation S)	Original Principal Amount					Percentage of Original Principal Amount Tendered and Accepted1	Original Principal Amount Tendered and Accepted2
STACR 2015-HQA1 M-3	N/A	3137G0GJ2 / N/A	US3137G0GJ28 / N/A	$75,739,531					96.20%	$72,864,531
STACR 2017-HQA2 M-2	N/A	3137G0PU7 / N/A	US3137G0PU71 / N/A	$13,200,000					95.83%	$12,650,000
STACR 2017-HQA2 B-1	N/A	3137G0QN2 / N/A	US3137G0QN20 / N/A	$13,955,000					100.00%	$13,955,000
STACR 2017-DNA3 M-2	N/A	3137G0QQ5 / N/A	US3137G0QQ50 / N/A	$2,320,002					100.00%	$2,320,000
STACR 2017-HQA3 M-2	N/A	3137G0RL5 / N/A	US3137G0RL54 / N/A	$65,888,206					74.57%	$49,133,950
STACR 2018-DNA1 M-2	N/A	3137G0TH2 / N/A	US3137G0TH25 / N/A	$30,355,000					61.49%	$18,665,000
STACR 2018-DNA1 B-1	N/A	3137G0UB3 / N/A	US3137G0UB36 / N/A	$1,704,904					100.00%	$1,704,904
STACR 2018-HQA1 M-2	N/A	3137G0UD9 / N/A	US3137G0UD91 / N/A	$3,630,000					100.00%	$3,630,000
STACR 2018-DNA2 M-2	Freddie Mac STACR Trust 2018-DNA2	35563TAB7 / N/A	US35563TAB70 / N/A	$3,000,000					100.00%	$3,000,000
STACR 2018-HRP2 B-1	Freddie Mac STACR Trust 2018-HRP2	35564ACB5 / N/A	US35564ACB52 / N/A	$226,000,000					82.10%	$185,535,000
STACR 2021-DNA1 M-2	Freddie Mac STACR REMIC Trust2021-DNA1	35564KAH2 / U3201WAH0	US35564KAH23 / USU3201WAH08	$310,000,000					82.17%	$254,724,000
STACR 2021-HQA1 M-2	Freddie Mac STACR REMIC Trust 2021-HQA1	35564KBS7 / U3201WBS5	US35564KBS78 / USU3201WBS53	$560,000,000					99.71%	$558,395,000
STACR 2021-DNA2 M-2	Freddie Mac STACR REMIC Trust 2021-DNA2	35564KDB2 / U3201WDB0	US35564KDB26 / USU3201WDB01	$396,000,000					73.38%	$290,577,000
STACR 2021-DNA3 M-2	Freddie Mac STACR REMIC Trust 2021-DNA3	35564KEL9 / U3201WEL7	US35564KEL98 / USU3201WEL73	$317,000,000					77.28%	$244,982,000
Total										$1,712,136,385

1 Rounded to the nearest hundredth of a percent.
2 For STACR 2018-HRP2 B-1, STACR 2021-DNA1 M-2, STACR 2021-HQA1 M-2, STACR 2021-DNA2 M-2 and STACR 2021-DNA3 M-2, the original principal amount tendered and accepted includes $69,534,000, $1,000,000, $24,390,000, $22,950,000 and $1,550,000, respectively, 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 14, 2024.

The Settlement Date for the Notes tendered and accepted for purchase in the Offer is expected to occur on Tuesday, May 14, 2024. Any Notes tendered using the Notice of Guaranteed Delivery and accepted for purchase are expected to be purchased on Thursday, May 16, 2024, but payment of accrued interest on such Notes will only be made to, but not including, the Settlement Date.

Nomura Securities International, Inc. and BofA Securities, Inc. 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 Nomura Securities International, Inc. at (212) 667-2159; or BofA Securities, Inc. at (980) 387-3907 or (888) 292-0070 (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 | X | LinkedIn | Facebook | Instagram | YouTube.

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

FAQ

What is the total original principal amount of the Notes tendered and accepted in Freddie Mac's tender offer?

Approximately $1.7 billion aggregate original principal amount of the Notes were tendered and not withdrawn in Freddie Mac's tender offer.

What is the Settlement Date for the Notes tendered and accepted in the offer?

The Settlement Date for the Notes tendered and accepted for purchase in the Offer is expected to occur on Tuesday, May 14, 2024.

Who are the lead dealer managers for the Offer conducted by Freddie Mac?

Nomura Securities International, Inc. and BofA Securities, Inc. are the lead dealer managers for the Offer conducted by Freddie Mac.