Freddie Mac provides early tender results for STACR notes

Chicago, Sept. 21 – Freddie Mac announced the early results of its tender offer for eight series of its Structured Agency Credit Risk notes, according to a press release.

Originally, the agency said that it would only accept up to $650 million of the notes, but it raised the acceptance level to accept all $1,629,424,656 of the notes tendered by the early deadline.

Noteholders tendered, and Freddie Mac is accepting, the following amounts of notes listed in order of acceptance priority with the full tender consideration listed per $1,000 principal amount include:

• $223,305,803, or 47.26%, of the $472.5 million of STACR 2017-HQA1 M2 notes (Cusip: 3137G0NE5) for $1,039.60;

• $318,596,794, or 78.67%, of the $405 million of STACR 2017-HQA3 M2 notes (Cusip: 3137G0RL5) for $1,026.20;

• $179,035,703, or 87.98%, of the $203.5 million of STACR 2016-HQA3 M3 notes (Cusip: 3137G0LA5) for $1,036.10;

• $179,604,000, or 85.53%, of the $210 million of STACR 2016-HQA4 M3 notes (Cusip: 3137G0LU1) for $1,040.50;

• $156,621,048, or 67.8%, of the $231 million of STACR 2014-HQ2 M3 notes (Cusip: 3137G0CH0) for $1,040.90;

• $102,199,923, or 52.41%, of the $195 million of STACR 2015-HQA2 M3 notes (Cusip: 3137G0HJ1) for $1,036.60;

• $151,212,000, or 55.59%, of the $272 million of STACR 2015-HQA1 M3 notes (Cusip: 3137G0GJ2) for $1,032.40; and

• $318,849,385, or 85.03%, of the $195 million of STACR 2017-DNA1 M3 notes (Cusip: 3137G0MD8) for $1,033.00.

In each case, the total consideration includes a $50 early participation premium that will be available only to holders who tendered by 5 p.m. ET on Sept. 20, which was also the withdrawal deadline.

The early settlement date is Sept. 22.

The offer was going to expire at 11:59 p.m. on Oct. 4. However, because the offer was oversubscribed by the early deadline, no more notes will be accepted for purchase.

Barclays (212-412-5780, 800-438-3242) is the lead dealer manager.

BofA Securities, Inc. (646-855-1160) is the designated dealer manager.

Global Bondholder Services Corp. (212-430-3774, 866-924-2200, contact@gbsc-usa.com) is the information agent.

The government-sponsored enterprise is based in McLean, Va.

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