Fannie Mae announces 83.69% of seven CAS notes tendered

Lexington, Ky., Nov. 22 – Fannie Mae has announced that $3,134,035,239 from seven series of Connecticut Avenue Securities debt notes, or 83.69%, have been validly tendered by the Nov. 19 expiration date of the offer, according to a company release.

The results for the notes are as follows:

• $396,646,775, or 82.22%, of the $482,437,000 outstanding series 2016-C03, class 2M-2 notes (Cusip: 30711XCT9) were tendered for a consideration of $1,058.50 per note;

• $339,144,040, or 57.03%, of the $594,681,019 outstanding series 2016-C04, class 1M-2 notes (Cusip: 30711XDA9) were tendered for a consideration of $1,038.50 per note;

• $546,972,038, or 92.93%, of the $588,604,114 outstanding series 2017-C02, class 2M-2 notes (Cusip: 30711XGP3) were tendered for a consideration of $1,042.50 per note;

• $223,880,733, or 92.35%, of the $242,420,733 outstanding series 2017-C06, class 1M-2 notes (Cusip: 30711XQX5) were tendered for a consideration of $1,028.50 per note;

• $610,187,453, or 91.46%, of the $667,152,000 outstanding series 2018-C02, class 2M-2 notes (Cusip: 30711XC36) were tendered for a consideration of $1,017.50 per note;

• $525,328,813, or 87.71%, of the $598,908,000 outstanding series 2018-C04, class 2M-2 notes (Cusip: 30711XR63) were tendered for a consideration of $1,026.50 per note; and

• $491,875,387, or 86.18%, of the $570,741,730 outstanding series 2018-C05, class 1M-2 notes (Cusip: 30711XY24) were tendered for a consideration of $1,021.50 per note.

All of the considerations are based on par of $1,000 notes.

In addition to the tender considerations, holders will receive accrued interest to the settlement date.

The offer expired at 5 p.m. on Nov. 19.

Settlement is expected for Nov. 23.

Notes tendered via guaranteed delivery are expected to be purchased on Nov. 24.

BofA Securities, Inc. was the lead dealer manager (888 292-0070, 980 387-3907). Barclays was the designated dealer manager (800 438-3242, 212 412-5780).

Global Bondholder Services Corp. was the tender agent and information agent (866 924-2200, 212 430-3774, contact@gbsc-usa.com, https://www.gbsc-usa.com/FannieMae).

Fannie Mae provides funds to mortgage bankers and other lenders to be used in loans to homebuyers.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.