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Fannie Mae begins tender offer for certain CAS notes
Chicago, Dec. 5 – Fannie Mae announced a tender offer for any and all of certain Connecticut Avenue Securities, according to a release.
The pricing terms for the offers for the $4,826,610,941 of notes are the following:
• $644,467,000 original principal balance of Connecticut Avenue Securities, series 2014-C02, class 1M-2 notes (Cusip: 30711XAF1) for a tender offer consideration of $1,013.13;
• $945 million original principal balance of Connecticut Avenue Securities, series 2014-C03, class 1M-2 notes (Cusip: 30711XAK0) for a tender offer consideration of $1,019.69;
• $651,064,000 original principal balance of Connecticut Avenue Securities, series 2015-C04, class 1M-2 notes (Cusip: 30711XBF0) for a tender offer consideration of $1,080;
• $392,443,000 original principal balance of Connecticut Avenue Securities, series 2015-C04, class 2M-2 notes (Cusip: 30711XBH6) for a tender offer consideration of $1,050;
• $599,085,000 original principal balance of Connecticut Avenue Securities, series 2016-C02, class 1M-2 notes (Cusip: 30711XCB8) for a tender offer consideration of $1,061.25;
• $255,535,490 original principal balance of Connecticut Avenue Securities, series 2016-C04, class 1M-2 notes (Cusip: 30711XDA9) for a tender offer consideration of $1,052.50;
• $41,632,076 original principal balance of Connecticut Avenue Securities, series 2017-C02, class 2M-2 notes (Cusip: 30711XGP3) for a tender offer consideration of $1,048.13;
• $105,301,703 original principal balance of Connecticut Avenue Securities, series 2017-C03, class 1M-2 notes (Cusip: 30711XJX3) for a tender offer consideration of $1,028.75;
• $223,544,499 original principal balance of Connecticut Avenue Securities, series 2017-C04, class 2M-2 notes (Cusip: 30711XLT9) for a tender offer consideration of $1,029.38;
• $45,399,723 original principal balance of Connecticut Avenue Securities, series 2017-C05, class 1M-2 notes (Cusip: 30711XNX8) for a tender offer consideration of $1,017.34;
• $284,996,000 original principal balance of Connecticut Avenue Securities, series 2017-C07, class 2M-2 notes (Cusip: 30711XWX8) for a tender offer consideration of $1,022.81;
• $54,705,450 original principal balance of Connecticut Avenue Securities, series 2018-C03, class 1M-2 notes (Cusip: 30711XJ70) for a tender offer consideration of $1,012.50;
• $353,406,000 original principal balance of Connecticut Avenue Securities, series 2018-C06, class 1M-2 notes (Cusip: 30711X3H5) for a tender offer consideration of $1,006.25; and
• $230,031,000 original principal balance of Connecticut Avenue Securities, series 2018-C06, class 2M-2 notes (Cusip: 30711X5R1) for a tender offer consideration of $1,010.
All considerations are based on $1,000 notes.
Interest will also be paid to the settlement date.
The offers will expire at 5 p.m. ET on Dec. 9.
Settlement is expected for Dec. 13.
There are guaranteed delivery procedures. Settlement for tenders via guaranteed delivery is expected for Dec. 14.
BofA Securities is the lead dealer manager (888 292-0070, 980 387-3907) and Wells Fargo Securities is the designated dealer manager (866 309-6316, 704 410-4756).
Great Pacific Securities and Siebert Williams Shank & Co., LLC have been engaged as advisers on the transaction.
Global Bondholder Services Corp. will be the tender agent and information agent (855 654-2015, 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.
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