Freddie Mac Announces Tender Offer for Any and All of Certain STACR Notes
Freddie Mac (OTCQB: FMCC) has announced a fixed-price cash tender offer to purchase any and all of certain STACR® (Structured Agency Credit Risk) Notes. The offer commenced on February 3, 2025, and will expire at 5 p.m., New York City time, on February 7, 2025.
The company has engaged BofA Securities, Inc. and Morgan Stanley & Co. as lead dealer managers and Academy Securities, Inc. as co-dealer manager. The settlement date is expected to be February 11, 2025, with guaranteed delivery settlement on February 13, 2025.
The tender offer includes multiple classes of Notes from various STACR Trusts, with tender offer considerations ranging from $1,004.90 to $1,155.13 per $1,000 original principal amount. Holders who tender their Notes will receive accrued and unpaid interest from the last interest payment date to the settlement date.
Freddie Mac (OTCQB: FMCC) ha annunciato un'offerta di acquisto in contante a prezzo fisso per l'acquisto di tutti i STACR® (Structured Agency Credit Risk) Notes. L'offerta è iniziata il 3 febbraio 2025 e scadrà alle 17:00 ora di New York, il 7 febbraio 2025.
L'azienda ha coinvolto BofA Securities, Inc. e Morgan Stanley & Co. come gestori principali dell'offerta, e Academy Securities, Inc. come co-gestore. La data di liquidazione è prevista per l'11 febbraio 2025, con una liquidazione garantita il 13 febbraio 2025.
L'offerta di acquisto include più classi di Notes provenienti da vari STACR Trusts, con considerazioni di acquisto che variano da $1,004.90 a $1,155.13 per ogni $1,000 di valore nominale originale. I titolari che presenteranno i loro Notes riceveranno gli interessi maturati e non pagati dalla data dell'ultimo pagamento degli interessi fino alla data di liquidazione.
Freddie Mac (OTCQB: FMCC) ha anunciado una oferta de compra en efectivo a precio fijo para adquirir cualquier y todas las Notas STACR® (Structured Agency Credit Risk). La oferta comenzó el 3 de febrero de 2025 y expirará a las 5 p.m., hora de Nueva York, el 7 de febrero de 2025.
La empresa ha contratado a BofA Securities, Inc. y Morgan Stanley & Co. como principales gestores de la oferta, y a Academy Securities, Inc. como co-gestor. La fecha de liquidación se espera para el 11 de febrero de 2025, con la liquidación garantizada el 13 de febrero de 2025.
La oferta de compra incluye múltiples clases de Notas de varios Fideicomisos STACR, con consideraciones de oferta que varían desde $1,004.90 hasta $1,155.13 por cada $1,000 de monto principal original. Los tenedores que ofrezcan sus Notas recibirán intereses acumulados y no pagados desde la última fecha de pago de intereses hasta la fecha de liquidación.
프레디맥(Freddie Mac)(OTCQB: FMCC)는 특정 STACR® (Structured Agency Credit Risk) 노트를 구매하기 위한 고정가 현금 입찰 제안을 발표했습니다. 이 제안은 2025년 2월 3일에 시작되어 2025년 2월 7일 오후 5시(뉴욕 시간)에 만료됩니다.
회사는 BofA Securities, Inc.와 Morgan Stanley & Co.를 주요 딜러 매니저로, Academy Securities, Inc.를 공동 딜러 매니저로 참여시켰습니다. 정산일은 2025년 2월 11일로 예상되며, 보장된 납입은 2025년 2월 13일입니다.
이번 입찰 제안에는 여러 STACR 트러스트의 다양한 클래스를 포함한 노트가 포함되며, 입찰 제안 고려액은 원금 1,000달러당 $1,004.90에서 $1,155.13까지 다양합니다. 노트를 제출하는 보유자는 마지막 이자 지급일로부터 정산일까지의 발생했으나 지급되지 않은 이자를 받게 됩니다.
Freddie Mac (OTCQB: FMCC) a annoncé une offre de rachat en espèces à prix fixe pour acquérir tout et partie de certains STACR® (Structured Agency Credit Risk) Notes. L'offre a commencé le 3 février 2025 et expirera à 17h, heure de New York, le 7 février 2025.
La société a engagé BofA Securities, Inc. et Morgan Stanley & Co. en tant que gestionnaires principaux de l'offre et Academy Securities, Inc. en tant que co-gestionnaire. La date de règlement est prévue pour le 11 février 2025, avec un règlement garanti le 13 février 2025.
L'offre de rachat comprend plusieurs classes de notes de différents STACR Trusts, avec des considérations d'offre variant de 1 004,90 $ à 1 155,13 $ par tranche de 1 000 $ de montant principal d'origine. Les détenteurs qui proposeront leurs notes recevront des intérêts courus et non payés depuis la dernière date de paiement des intérêts jusqu'à la date de règlement.
Freddie Mac (OTCQB: FMCC) hat ein barzahlungspflichtiges Angebot zu einem Festpreis angekündigt, um alle STACR® (Structured Agency Credit Risk) Anleihen zu erwerben. Das Angebot begann am 3. Februar 2025 und endet um 17 Uhr New Yorker Zeit am 7. Februar 2025.
Das Unternehmen hat BofA Securities, Inc. und Morgan Stanley & Co. als Hauptverantwortliche und Academy Securities, Inc. als Co-Verwalter engagiert. Das Abrechnungsdatum wird voraussichtlich der 11. Februar 2025 sein, mit einer garantierten Lieferung am 13. Februar 2025.
Das Angebot umfasst mehrere Klassen von Anleihen aus verschiedenen STACR-Trusts, wobei die Angebotspreise von $1,004.90 bis $1,155.13 pro $1,000 ursprünglichem Nennbetrag reichen. Inhaber, die ihre Anleihen einreichen, erhalten die aufgelaufenen und unbezahlten Zinsen vom letzten Zinszahlungstermin bis zum Abrechnungsdatum.
- Clear tender offer pricing structure with premium over principal amount
- Engagement of major financial institutions as dealer managers
- Quick settlement timeline (February 11, 2025)
- Short tender offer window (5 days) may limit participation
MCLEAN, Va., Feb. 03, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that it has commenced a fixed-price cash tender offer (the “Offer”) for the purchase of any and all of the STACR® (Structured Agency Credit Risk) Notes listed in the table below (the “Notes”) beginning Monday, February 3, 2025. Each of the classes of Notes subject to the Offer was issued by the applicable 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.
Freddie Mac has engaged BofA Securities, Inc. and Morgan Stanley & Co. LLC as lead dealer managers (the “Lead Dealer Managers”) and Academy Securities, Inc. as co-dealer manager (the “Co-Dealer Manager” and, collectively with the Lead Dealer Managers, the “Dealer Managers”) for the Offer. Freddie Mac is offering to purchase any and all of the Notes listed. The applicable Total Consideration to be paid by Freddie Mac to holders that tender Notes accepted for purchase pursuant to the Offer will be calculated based on the original principal amount of such tendered and accepted Notes, the applicable factor, and the applicable Tender Offer Consideration identified in the table below, plus any accrued and unpaid interest under the applicable Indenture upon the terms and subject to the conditions set forth in the Offer to Purchase dated February 3, 2025 (as amended from time to time, the “Offer to Purchase”) and related Notice of Guaranteed Delivery dated February 3, 2025 (collectively with the Offer to Purchase, the “Offer Documents”). Capitalized terms used and not otherwise defined herein will have the meaning ascribed to such terms in the Offer to Purchase.
The tender offer period will commence on Monday, February 3, 2025, and expire at 5 p.m., New York City time, on Friday, February 7, 2025 (the “Expiration Time”), unless extended. Holders must validly tender their Notes at or prior to the Expiration Time. Notes validly tendered may be withdrawn at any time at or prior to 5 p.m., New York City time, on Friday, February 7, 2025, unless extended by Freddie Mac, but not thereafter (except in certain limited circumstances where additional withdrawal rights are granted by Freddie Mac or otherwise required by law).
Holders whose Notes are purchased in the Offer will receive accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date (as defined in the Offer to Purchase) for the Notes. Freddie Mac expects the Settlement Date to occur on Tuesday, February 11, 2025. Any Notes tendered using the Notice of Guaranteed Delivery and accepted for purchase are expected to be purchased on Thursday, February 13, 2025, but payment of accrued interest on such Notes will only be made to, but not including, the Settlement Date.
| Title of Security | STACR Trust | CUSIP Number (U.S. / Regulation S) | ISIN Number (U.S. / Regulation S) | Original Principal Amount | Tender Offer Consideration (per original principal amount) | ||
| STACR 2019-HQA2 B-1 | Freddie Mac STACR Trust 2019-HQA2 | 35564MBD6/ N/A | US35564MBD65/ N/A | ||||
| STACR 2019-HQA3 M-2 | Freddie Mac STACR Trust 2019-HQA3 | 35564XAH4/ N/A | US35564XAH44/ N/A | ||||
| STACR 2020-DNA2 M-2 | Freddie Mac STACR REMIC Trust 2020-DNA2 | 35565KAH1/ U3198RAH6 | US35565KAH14/ USU3198RAH67 | ||||
| STACR 2020-DNA4 B-1 | Freddie Mac STACR REMIC Trust 2020-DNA4 | 35565XBD1/ U3197MBD6 | US35565XBD12/ USU3197MBD66 | ||||
| STACR 2021-DNA1 M-2 | Freddie Mac STACR REMIC Trust 2021-DNA1 | 35564KAH2/ U3201WAH0 | US35564KAH23/ USU3201WAH08 | ||||
| STACR 2021-DNA2 M-2 | Freddie Mac STACR REMIC Trust 2021-DNA2 | 35564KDB2/ U3201WDB0 | US35564KDB26/ USU3201WDB01 | ||||
| STACR 2021-DNA3 M-2 | Freddie Mac STACR REMIC Trust 2021-DNA3 | 35564KEL9/ U3201WEL7 | US35564KEL98/ USU3201WEL73 | ||||
| STACR 2022-DNA1 M-1A | Freddie Mac STACR REMIC Trust 2022-DNA1 | 35564KPU7/ U3201WPU5 | US35564KPU78/ USU3201WPU53 | ||||
| STACR 2022-DNA1 M-1B | Freddie Mac STACR REMIC Trust 2022-DNA1 | 35564KPV5/ U3201WPV3 | US35564KPV51/ USU3201WPV37 | ||||
| STACR 2022-HQA1 M-1B | Freddie Mac STACR REMIC Trust 2022-HQA1 | 35564KTB5/ U3201WTB3 | US35564KTB51/ USU3201WTB37 | ||||
This announcement is neither an offer to buy nor a solicitation of offers to buy any of these securities. None of Freddie Mac, the Dealer Managers, or the Information Agent make any recommendation that any holder of the securities tender or refrain from tendering all or any portion of the original principal amount of such holder’s securities. Holders must make their own decisions whether to tender securities, and if so, decide on the original principal amount of securities to tender.
The Offer is being made only upon the terms and subject to the conditions set forth in the Offer Documents. Copies of the Offer Documents may be obtained on Freddie Mac’s website at https://capitalmarkets.freddiemac.com/crt/securities or from the Information Agent for the Offer, Global Bondholder Services Corporation’s website at https://www.gbsc-usa.com/FreddieMac, or by calling (212) 430-3774 or (855) 654-2015 (toll-free). Questions regarding the Offer may be directed to BofA Securities, Inc. at (980) 387-3907 or (888) 292-0070 (toll-free); Morgan Stanley & Co. LLC at (212) 761-1057 (collect) or (800) 624-1808 (toll free); or Global Bondholder Services Corporation, as tender agent, at (212) 430-3774 or (855) 654-2015 (toll-free).
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 | LinkedIn | Facebook | X | Instagram | YouTube
MEDIA CONTACT: Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com
FAQ
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Can holders withdraw their tendered FMCC STACR Notes?
