Freddie Mac accepts $1.49 billion of STACR notes via tender offer

By Mary-Katherine Stinson

Lexington, Ky., March 13 – Freddie Mac announced the results of its any-and-all tender offer for certain STACR notes on Wednesday, according to a press release.

As of the expiration date of 5 p.m. ET on March 12, also the withdrawal time, $1,486,859,473 total principal amount was validly tendered and accepted for purchase. Broken down by series, the following tendered notes will be purchased:

• $16,410,333, or 28.48%, of the $57,620,333 original principal amount of STACR 2017-DNA2 B-1 notes (ISIN: US3137G0PR43) for a fixed purchase price of $1,117.50 per note;

• $8,249,115, or 26.12%, of the $31,585,000 original principal amount of STACR 2018-DNA3 B-1 notes (ISIN: US35563WBD56) from the STACR Trust 2018-DNA3 for a fixed purchase price of $1,110 per note;

• $16.25 million, or 97.01%, of the $16.75 million original principal amount of STACR 2019-DNA4 B-1 notes (ISIN: US35565ABD19) from the STACR REMIC Trust 2019-DNA4 for a fixed purchase price of $1,040 per note;

• $13 million, or 32.3%, of the $40.25 million original principal amount of STACR 2019-FTR2 B-1 notes (ISIN: US35564WBD48) from the STACR Trust 2019-FTR2 for a fixed purchase price of $1,075 per note;

• $12.58 million, or 15.45%, of the $81.4 million original principal amount of STACR 2019-HQA1 B-1 notes (ISIN: US35563MBD74) from the STACR Trust 2019-HQA1 for a fixed purchase price of $1,112.50 per note;

• All of the $43,290,791, or 100%, of the original principal amount of STACR 2019-HQA3 B-1 notes (ISIN: US35564XBD21) from the STACR Trust 2019-HQA3 for a fixed purchase price of $1,067.50 per note;

• All of the $25,355,234, or 100%, of the original principal amount of STACR 2019-HQA4 B-1 notes (ISIN: US35565CBD74) from the STACR REMIC Trust 2019-HQA4 for a fixed purchase price of $1,042.50 per note;

• All of the $15.29 million, or 100%, of the original principal amount of STACR 2019-HRP1 M-3 notes (ISIN: US35564RBF01) from the STACR Trust 2019-HRP1 for a fixed purchase price of $1,040 per note;

• $247 million, or 98.8%, of the $250 million original principal amount of STACR 2020-DNA3 B-1 notes (ISIN: US35565WBD39) from the STACR REMIC Trust 2020-DNA3 for a fixed purchase price of $1,117.50 per note;

• $284,934,000, or 92.51%, of the $308 million original principal amount of STACR 2020-DNA5 M-2 notes (ISIN: US35566AAH23) from the STACR REMIC Trust 2020-DNA5 for a fixed purchase price of $1,019.40 per note;

• $204.5 million, or 98.32%, of the $208 million original principal amount of STACR 2020-DNA6 M-2 notes (ISIN: US35566CAH88) from the STACR REMIC Trust 2020-DNA6 for a fixed purchase price of $1,022.50 per note;

• All of the $225 million, or 100%, of the original principal amount of STACR 2020-HQA3 B-1 notes (ISIN: US35565MBD56) from the STACR REMIC Trust 2020-HQA3 for a fixed purchase price of $1,133.75 per note; and

• All of the $375 million, or 100%, of the original principal amount of STACR 2020-HQA5 M-2 notes (ISIN: US35565TAH23) from the STACR REMIC Trust 2020-HQA5 for a fixed purchase price of $1,031.25 per note.

The purchase prices are based on $1,000 notes, and interest will also be paid.

Settlement is expected for March 14.

There are guaranteed delivery procedures, with settlement for that method on March 15. The aggregate principal amount tendered and accepted includes $3 million of the STACR 2019-DNA4 B-1 notes, $33,346,791 of the STACR 2019-HQA3 B-1 notes, $7.25 million of the STACR 2020-DNA5 M-2 notes, $12,251,000 of the STACR 2020-DNA6 M-2 notes, $47,684,000 of the STACR 2020-HQA3 B-1 and $4.5 million of the STACR 2020-HQA5 M-2 notes which were all tendered through guaranteed delivery procedures.

BofA Securities, Inc. (980 387-3907, 888 292-0070) and Nomura Securities International, Inc. (212 667-2159) are the lead dealer managers.

Academy Securities, Inc. 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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