Freddie Mac announces results of tender offer for nine STACR notes

By Mary-Katherine Stinson

Lexington, Ky., Feb. 13 – Freddie Mac announced the results of its tender offer for nine Structured Agency Credit Risk notes, according to a press release.

The offer expired at 5 p.m. ET on Feb. 10.

In total, $1,639,375,459 of the notes were tendered and accepted for purchase.

The results by series are as follows:

• $387.373 million, or 94.94%, of the $408 million outstanding STACR 2014-DN1 M-3 notes (Cusip: 3137G0AM1) were tendered and accepted for purchase at a price of $1,034.50;

• $343.785 million, or 87.92%, of the $391 million outstanding STACR 2014-DN2 M-3 notes (Cusip: 3137G0AY5) were tendered and accepted for purchase at a price of $1,030.20;

• $69.275 million, or 92.37%, of the $75 million outstanding STACR 2015-DN1 B notes (Cusip: 3137G0DZ9) were tendered and accepted for purchase at a price of $1,060;

• $279,401,377, or 76.02%, of the $367.523 million outstanding STACR 2016-DNA1 M-3 notes (Cusip: 3137G0HW2) were tendered and accepted for purchase at a price of $1,088.60;

• $132,095,415, or 100%, of the outstanding STACR 2016-HQA1 M-3 notes (Cusip: 3137G0JJ9) were tendered and accepted for purchase at a price of $1,110;

• $119.361 million, or 99.47%, of the $120 million outstanding STACR 2017-DNA1 B-1 notes (Cusip: 3137G0MX4) were tendered and accepted for purchase at a price of $1,093.93;

• $52.16 million, or 94.84%, of the $55 million outstanding STACR 2017-HQA1 B-1 notes (Cusip: 3137G0NC9) were tendered and accepted for purchase at a price of $1,095.98;

• $157,379,667, or 73.2%, of the $215 million outstanding STACR 2017-DNA2 B-1 notes (Cusip: 3137G0PR4) were tendered and accepted for purchase at a price of $1,104.40; and

• $98.545 million, or 87.6%, of the $112.5 million outstanding STACR 2017-HQA2 B-1 notes (Cusip: 3137G0QN2) were tendered and accepted for purchase at a price of $1,091.43.

Interest will also be paid to the settlement date.

Settlement is expected on Feb. 14.

Any notes tendered via guaranteed delivery are expected to be purchased on Feb. 15.

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

CastleOak Securities LP is the co-dealer manager.

Global Bondholder Services Corp. (212 430-3774, 855 654-2015, https://www.gbsc-usa.com/FreddieMac) is the information agent.

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

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