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Published on 8/4/2022 in the Prospect News Liability Management Daily.

Freddie Mac launches cash tender offer for 20 STACR notes

By Marisa Wong

Los Angeles, Aug. 4 – Freddie Mac began a fixed-price cash tender offer on Tuesday for the purchase of any and all of 20 STACR (Structured Agency Credit Risk) debt notes, according to a press release.

Freddie Mac is offering to purchase the following notes, listed with the tender offer consideration per $1,000 principal amount:

• $320 million STACR 2014-DN3 M-3 (Cusip: 3137G0BK4) at $1,024.06;

• $312 million STACR 2014-DN4 M-3 (Cusip: 3137G0CU1) at $1,030;

• $74,378,952 STACR 2014-HQ2 M-3 (Cusip: 3137G0CH0) at $1,030;

• $95 million STACR 2015-HQ2 M-3 (Cusip: 3137G0FJ3) at $1,016.25;

• $120,788,000 STACR 2015-HQA1 M-3 (Cusip: 3137G0GJ2) at $1,040;

• $248,931,000 STACR 2015-DNA3 M-3 (Cusip: 3137G0GW3) at $1,048.75;

• $92,800,077 STACR 2015-HQA2 M-3 (Cusip: 3137G0HJ1) at $1,055;

• $217,529,411 STACR 2016-HQA1 M-3 (Cusip: 3137G0JJ9) at $1,082.50;

• $458,898,000 STACR 2016-DNA2 M-3 (Cusip: 3137G0JU4) at $1,059.22;

• $211,808,400 STACR 2016-HQA2 M-3 (Cusip: 3137G0KE8) at $1,066.17;

• $245,167,829 STACR 2016-DNA3 M-3 (Cusip: 3137G0KQ1) at $1,064.38;

• $133,160,580 STACR 2016-DNA4 M-3 (Cusip: 3137G0LJ6) at $1,043.13;

• $56,150,615 STACR 2017-DNA1 M-2 (Cusip: 3137G0MD8) at $1,034;

• $138,938,197 STACR 2017-HQA1 M-2 (Cusip: 3137G0NE5) at $1,042.50;

• $135,579,753 STACR 2017-DNA2 M-2 (Cusip: 3137G0NX3) at $1,042.50;

• $36,505,321 STACR 2017-HQA2 M-2 (Cusip: 3137G0PU7) at $1,020;

• $42,896,976 STACR 2017-DNA3 M-2 (Cusip: 3137G0QQ5) at $1,016.90;

• $80,403,206 STACR 2017-HQA3 M-2 (Cusip: 3137G0RL5) at $1,015;

• $33,827,983 STACR 2018-DNA1 M-2 (Cusip: 3137G0TH2) at $1,002; and

• $516,573,000 STACR 2018-HQA1 M-2 (Cusip: 3137G0UD9) at $1,014.14.

Holders will also receive accrued interest from the last interest payment date to but excluding the settlement date.

The tender offer will expire at 5 p.m. ET on Aug. 8.

Settlement is expected to be on Aug. 10.

Tenders may be withdrawn at any time prior to the expiration time.

Notes tendered using notice of guaranteed delivery and accepted for purchase are expected to be purchased on Aug. 11.

Copies of the offer documents may be obtained on Freddie Mac’s website at https://crt.freddiemac.com/securities or from information agent Global Bondholder Services Corp. (https://www.gbsc-usa.com/FreddieMac, 212 430-3774 or 855 654-2015).

BofA Securities, Inc. (980 387-3907 or 888 292-0070) and Wells Fargo Securities, LLC (866 309-6316 or 704 410-4756) are lead dealer managers, and Academy Securities, Inc. is co-dealer manager for the offer.

The government-sponsored enterprise that provides mortgage capital to lenders is based in McLean, Va.


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