MCLEAN, Va., September 07, 2021 (GLOBE NEWSWIRE) — Freddie Mac (OTCQB: FMCC) today announced its fixed-price cash tender offers (each, an “Offer” and collectively, the “Offers”) to purchase Structured Agency Credit Risk) listed below (the “Notes”) beginning Tuesday, September 7, 2021.
Freddie Mac engaged himself Barclays Capital Inc.the designated leader for the Bids, and BofA Securities, Inc. the dealer manager designated for the Bids. Freddie Mac offers to purchase the Bonds listed in the table below, subject to a limit of $650 million as an overall initial principal amount (subject to increase, the “bidding ceiling”). The total applicable consideration to be paid by Freddie Mac Holders that the offer of Notes accepted for purchase pursuant to the Offers will be calculated on the basis of the initial principal amount of such Notes deposited and accepted, the applicable factor and the total consideration of the offer to purchase or the consideration of the late offer to purchase, as applicable, identified in the table below, plus any accrued and unpaid interest under the applicable debt agreement on the terms and subject to the conditions set forth in the “offer to purchase ”, dated September 7, 2021. Capitalized terms used and not otherwise defined herein shall have the meaning assigned to those terms in the Offer to Purchase.
The public offering period will begin on Tuesday, September 7, 2021and expires at 11:59 p.m. New York City It’s time Monday, October 4, 2021, except extension. Noteholders must validly tender their Notes no later than the Early Tender Time in order to be eligible to receive the Total Consideration calculated on the basis of the Total Consideration of the Tender Offer (see table below), which includes the Early Redemption Payment. The Early Tender Time for the Bid is 5 p.m., New York City It’s time Monday, September 20, 2021, unless extended at Freddie Mac’s discretion, in respect of any or all series of tickets. Holders who validly tender their Notes after the Early Tender Time and no later than the Expiry Time will only be eligible to receive the Total Consideration calculated on the basis of the Late Tender Offer Consideration (see table below) and will not be eligible to receive the Early Bid Payment. .
Bondholders wishing to submit orders to the offer may do so by calling the lead dealer manager or the dealer manager at any time. between 9 a.m. and 5 p.m. New York City time during the public offering period. For tickets validly tendered before the early tender time, we expect to publish the tender results on Tuesday, September 21, 2021 at https://crt.freddiemac.com/ and have prompt settlement on Wednesday, September 22, 2021 (the “Early Settlement Date”); for Notes validly tendered after the Early Tender Time but no later than the Expiry Time, we expect to publish the final results of the tender on Tuesday, October 5, 2021 on https://crt.freddiemac.com/ and install on Wednesday, October 6, 2021 (the “Final Settlement Date”). However, all dates and times are subject to change as described in the offer to purchase.
Tickets validly offered can be withdrawn at any time at the latest 5 p.m., New York City It’s time Monday, September 20, 2021, unless extended by us, but not thereafter (except in certain limited circumstances where additional rights of withdrawal are granted by us or otherwise required by law). Each Bid is conditioned on us purchasing up to the Bid Cap for all Bonds pursuant to the Bids. If all the Bonds validly tendered under the Offers exceed the Contribution Ceiling, Freddie Mac shall have the right to increase the Bid Limit and to accept any or all of the Tickets validly tendered (subject to an increased Bid Limit, if any).
The aggregate initial principal amount of each series of Notes purchased by us on any Settlement Date will be determined in accordance with the priority level of acceptance for that series (in numerical order of priority) as set out in the table on the Offer Cover . of Purchase (the “Acceptance Priority Level”), 1 being the highest Acceptance Priority Level, and depending on whether the Securities are tendered no later than the Early Tender Time or after the Early Tender but no later than the Expiry Time.
|Acceptance priority level
||Original Principal Amount
||Complete review of the offer to purchase
(through $1,000 initial principal amount)
|Review of late takeover bid
(through $1,000 initial principal amount)
||STACR 2017-HQA1 M2
||STACR 2017-HQA3 M2
||STACR 2016-HQA3 M3
||STACR 2016-HQA4 M3
||STACR 2014-HQ2 M3
||STACR 2015-HQA2 M3
||STACR 2015-HQA1 M3
||STACR 2017-DNA1 M2
This announcement is neither an offer to buy nor a solicitation of offers to buy any of these securities. No more Freddie Mac, neither the broker-managers nor the information agent recommend that a holder of securities deposit or abstain from depositing all or part of the initial principal amount of such holder’s securities. Holders must decide for themselves whether or not they wish to deposit securities and, if so, decide on the initial principal amount of securities to be deposited.
Offers are made only on the terms and subject to the conditions set forth in the offer to purchase dated September 7, 2021. Copies of the Offer to Purchase and related Letter of Transmittal may be obtained on the Freddie Mac website at www.FreddieMac.com/investors or from the Offer Information Agent , Global Bondholder Services Company, at (212) 430-3774 or (866) 924-2200 (toll-free). Questions regarding offers can be directed to Barclays Capital Inc. at (212) 412-5780 (call collect) or (800) 438-3242 (toll-free), or BofA Securities, Inc. at (646) 855-1160 (toll free), or Global Bondholder Services Companyas Tender Agent, at (212) 430-3774 or (866) 924-2200 (toll free).
This announcement does not constitute an invitation to participate in Offers in or from any jurisdiction in or from which, or to or from any person to or from whom, it is unlawful to make such an Offer under the applicable securities laws or otherwise. The distribution of Offer Materials and the transactions contemplated by the Offers may be restricted by law in certain jurisdictions where it is legal to do so. Offers are void in all jurisdictions where prohibited. If documents relating to the Offers come into your possession, you are bound by Freddie Mac to inform you of and comply with all such restrictions. The Offer Materials do not constitute, and may not be used in connection with, an offer or solicitation in any location where offers or solicitations are not permitted by law. If a jurisdiction requires offers to be made by an authorized broker or dealer and a broker-dealer or any affiliate of a broker-dealer is a licensed broker or dealer in that jurisdiction, offers will be deemed to have been made. made by the broker-manager or such affiliate on behalf of Freddie Mac in this 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 nationwide. We are building a better housing finance system for buyers, renters, lenders and ratepayers. Learn more at FreddieMac.com, Twitter @FreddieMac and the Freddie Mac blog FreddieMac.com/blog.
MEDIA CONTACT: Fred Salomon
Source: Freddie Mac
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