Federal Home Loan Mortgage: Freddie Mac Announces Results of Advance Tender Offer for STACR Debt Notes and Increase in Offer Cap

MCLEAN, Virginia, September 21, 2021 (GLOBE NEWSLETTER) – Freddie mac (OTCQB: FMCC) (the “Company”) today announced the results of the early tender at the time of the early tender (defined below) in connection with its tender previously announced purchase $ 650 million total amount of the initial principal (the “Offer”) of its current STACR® (Structured agency credit risk) Debt securities listed in the table below (the “Securities”).

The Company has conducted the Offer in accordance with the terms and conditions set out in the Offer to purchase, dated Tuesday, September 7, 2021, as completed by Supplement n ° 1, dated September 13, 2021, and as completed by Supplement n ° 2, dated September 14, 2021 (as completed, the “Offer to Purchase”), and the related Letter of Transmittal (the “Letter of Transmittal” and, together with the Offer to Purchase, the “Offer Documents”). Capitalized terms used but not defined in this press release have the meanings given to them in the offer to purchase.

The Company has determined that it will agree to purchase 100% of Notes validly deposited on or before the Early Deposit Time and not properly withdrawn on or before the Withdrawal Cut-Off Time (defined below). The Company also announced today that it has elected to increase the bid cap to $ 1,629,424,656 total initial principal amount, in order to accept all Notes which have been validly deposited on or before the Early Deposit Time and which have not been properly withdrawn on or before the Withdrawal Cut-off Time.

From 5:00 p.m., New York City It’s time Monday, September 20, 2021 (the “Advance Tender Deadline”), approximately $ 1,629 million the total initial principal amount of the Notes had been validly deposited and had not been properly withdrawn, as shown in the table below:

Security title CUSIP
ISIN number Original principal
Original principal
Submitted as of
Anticipated bidding time
Percentage of
Original Notes
1 STACR 2017-HQA1 M2 3137G0NE5 US3137G0NE57 $ 472,500,000.00 $ 223,305,803 47.26% $ 223,305,803
2 STACR 2017-HQA3 M2 3137G0RL5 US3137G0RL54 $ 405,000,000.00 $ 318,596,794 78.67% $ 318,596,794
3 STACR 2016-HQA3 M3 3137G0LA5 US3137G0LA53 $ 203,500,000.00 $ 179,035,703 87.98% $ 179,035,703
4 STACR 2016-HQA4 M3 3137G0LU1 US3137G0LU18 $ 210,000,000.00 $ 179,604,000 85.53% $ 179,604,000
5 STACR 2014-HQ2 M3 3137G0CH0 US3137G0CH08 $ 231,000,000.00 $ 156,621,048 67.80% $ 156,621,048
6 STACR 2015-HQA2 M3 3137G0HJ1 US3137G0HJ19 $ 195,000,000.00 $ 102,199,923 52.41% $ 102,199,923
seven STACR 2015-HQA1 M3 3137G0GJ2 US3137G0GJ28 $ 272,000,000.00 $ 151,212,000 55.59% $ 151,212,000
8 STACR 2017-ADN1 M2 3137G0MD8 US3137G0MD83 $ 375,000,000.00 $ 318,849,385 85.03% $ 318,849,385
Total $2,364,000,000.00 $1,629,424,656 68.93% $1,629,424,656

1 Round to the nearest hundredth of a percent.

The “withdrawal deadline” of the Offer was 5:00 p.m., New York City It’s time Monday, September 20, 2021, and was not extended for any series of tickets. Since the bid ceiling has been reached as a result of bids made on or before the Early Submission Time, no ticket of any series deposited after the Early Submission Time (regardless of the priority level of submission). ‘acceptance) will only be accepted upon purchase.

Settlement will take place on Wednesday September 22, 2021 (the “Early Settlement Date”).

Barclays Capital Inc. acts as the designated prime broker for the offering, and BofA Securities, Inc. is acting as designated broker-manager for the offering. For more information on the terms of the Offer, please contact Barclays Capital Inc. at (212) 412-5780 (collect) or at (800) 438-3242 (toll free) or BofA Securities, Inc. at (646) 855-1160. Requests for offer documents can be addressed to Global Bondholder Services Company, who acts as the Submission Agent and Information Agent for the Offer, at (212) 430-3774 or (866) 924-2200 (free number) or by email at [email protected] .

This announcement is neither an offer to buy nor a solicitation of offers to buy these securities. None of Freddie mac, the managers of brokers or the information agent recommend that any holder of securities deposit or refrain from depositing all or part of the initial capital of the securities of this holder. Holders must make their own decisions about the offering of securities and, if so, decide on the initial principal amount of the securities to be delivered.

This announcement does not constitute an invitation to participate in the Offer in or from any jurisdiction in or from which, or to or from any person to or from whom, it is illegal to make such an Offer under any law. on applicable securities or otherwise. The distribution of documents relating to the Offer and the transactions contemplated by the Offer may be restricted by law in certain jurisdictions where it is legal to do so. The Offer is void in all jurisdictions where it is prohibited. If documents relating to the offer come into your possession, you are bound by Freddie mac to inform you and to respect all these restrictions. The documents relating to the offer do not constitute, and may not be used in connection with, an offer or a solicitation in a place where the offers or the solicitations are not authorized by law. If a jurisdiction requires that the offer be made by an authorized broker or broker and a broker-manager or any affiliate of a broker-manager is a broker or broker-dealer in that jurisdiction, the offer will be deemed to be made by the broker-manager or such affiliate on behalf of Freddie mac in that jurisdiction.

Freddie mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we made housing more accessible and affordable for buyers and renters in communities across the country. We are building a better housing finance system for buyers, tenants, lenders and taxpayers. Learn more at FreddieMac.com, Twitter @FreddieMac, and Freddie Mac’s blog FreddieMac.com/blog.

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Source: Freddie mac

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Priscilla C. Carnegie