Freddie Mac Announces Results of Tender Offer for Certain STACR Notes 

Rhea-AI Summary

Freddie Mac (OTCQB: FMCC) announced results of its tender offer for certain STACR notes, reporting approximately $1,238,628,570 aggregate original principal amount validly tendered and accepted as of the Oct 16, 2025 expiration.

Key class-level acceptances include 99.20% of STACR 2021-HQA4 M-1 and full acceptance of STACR 2019-DNA2 B-2 ($73,000,000). Settlement is expected on Oct 20, 2025 (guaranteed-delivery settlements on Oct 21, 2025). Dealer managers are Wells Fargo, Cantor Fitzgerald and CastleOak; Global Bondholder Services is tender agent.

Positive

• Aggregate accepted principal of $1,238,628,570
• Full acceptance of STACR 2019-DNA2 B-2 ($73,000,000)
• Near-complete acceptance of STACR 2021-HQA4 M-1 (99.20%)
• Multiple classes accepted at >58% to 81% participation

Negative

• Expected cash outflow of $1,238,628,570 at settlement on Oct 20–21, 2025

MCLEAN, Va., Oct. 17, 2025 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) (the “Company”) today announced the tender results of its previously announced offer to purchase (the “Offer”) any and all of the STACR^® (Structured Agency Credit Risk) Notes listed in the table below (the “Notes”). Certain of the classes of Notes subject to the Offer were issued by the applicable STACR trust identified in the table below (each, a “Trust”). Freddie Mac is the holder of the owner certificate issued by each Trust and, as a result, the sole beneficial owner of each Trust.

The Company has conducted the Offer in accordance with the conditions set forth in the Offer to Purchase dated October 9, 2025 (the “Offer to Purchase”) and related Notice of Guaranteed Delivery dated October 9, 2025 (collectively, the “Offer Documents”). Capitalized terms used but not defined in this Press Release have the meanings ascribed to such terms in the Offer Documents.

As of 5:00 p.m., New York City time, on Thursday, October 16, 2025 (the “Expiration Time”), approximately $1.2 billion aggregate original principal amount of the Notes had been validly tendered and not properly withdrawn as set forth in the table below:

Title of Security	STACR Trust (If applicable)	CUSIP Number (U.S. / Regulation S)	ISIN Number (U.S. / Regulation S)	Original Principal Amount		Percentage of Original Principal Amount Tendered and Accepted1	Original Principal Amount Tendered and Accepted2
STACR 2017-HRP1 B-1	N/A	3137G0TF6 / N/A	US3137G0TF68 / N/A	$03		0.00%	-
STACR 2019-DNA2 B-2	Freddie Mac STACR Trust 2019-DNA2	35564LBE6 / N/A	US35564LBE65 / N/A	$73,000,000		100%	$73,000,000
STACR 2019-FTR2 B-2	Freddie Mac STACR Trust 2019-FTR2	35564WBE2 / N/A	US35564WBE21 / N/A	$46,000,000		1.89%	$870,000
STACR 2019-HQA4 B-2	Freddie Mac STACR REMIC Trust 2019-HQA4	35565CBE5 / U3198LBE5	US35565CBE57 / USU3198LBE57	$57,000,000		60.04%	$34,223,500
STACR 2021-HQA2 M-2	Freddie Mac STACR REMIC Trust 2021-HQA2	35564KFV6 / U3201WFV4	US35564KFV61 / USU3201WFV47	$83,428,000		43.64%	$36,405,000
STACR 2021-HQA4 M-1	Freddie Mac STACR REMIC Trust 2021-HQA4	35564KNK1 / U3201WNK9	US35564KNK15 / USU3201WNK99	$445,000,000		99.20%	$441,430,000
STACR 2022-DNA3 B-2	Freddie Mac STACR REMIC Trust 2022-DNA3	35564KWG0 / U3201WWG8	US35564KWG02 / USU3201WWG86	$107,000,000		73.06%	$78,170,000
STACR 2022-DNA4 B-2	Freddie Mac STACR REMIC Trust 2022-DNA4	35564KYC7 / U3201WYC5	US35564KYC79 / USU3201WYC54	$88,000,000		58.31%	$51,309,664
STACR 2022-DNA5 B-2	Freddie Mac STACR REMIC Trust 2022-DNA5	35564KZY8 / U3201WZY6	US35564KZY80 / USU3201WZY65	$82,000,000		60.93%	$49,961,406
STACR 2022-HQA2 M-1A	Freddie Mac STACR REMIC Trust 2022-HQA2	35564KB24 / U3201WB22	US35564KB241 / USU3201WB220	$300,000,000		80.90%	$242,707,000
STACR 2022-HQA3 M-1A	Freddie Mac STACR REMIC Trust 2022-HQA3	35564KE39 / U3201WE29	US35564KE393 / USU3201WE299	$285,000,000		80.90%	$230,552,000
Total							$1,238,628,570

1. Rounded to the nearest hundredth of a percent.
2. For STACR 2019-DNA2 B-2, STACR 2019-FTR2 B-2, STACR 2019-HQA4 B-2, STACR 2021-HQA4 M-1, STACR 2022-DNA3 B-2, STACR 2022-DNA4 B-2, STACR 2022-DNA5 B-2, STACR 2022-HQA2 M-1A and STACR 2022-HQA3 M-1A, the original principal amount tendered and accepted includes $2,000,000, $870,000, $5,970,000, $527,004, $24,502,342, $3,130,715, $24,368,494, $53,855,000 and $39,490,600, respectively, expected to be tendered by guaranteed delivery prior to the Guaranteed Delivery Deadline. The Guaranteed Delivery Deadline is 5:00 p.m., New York City time, on Monday, October 20, 2025.
3. The Original Principal Amount set forth for such Notes in this table does not include the additional portion of such Notes identified in the Offer to Purchase as an Associated Eligible Series of Notes, which, upon the completion of the indicated exchange of the related ineligible securities for such Associated Eligible Series of Notes, would also become eligible to participate in the Offer.
   
   

The Settlement Date for the Notes tendered and accepted for purchase in the Offer is expected to occur on Monday, October 20, 2025. Any Notes tendered using the Notice of Guaranteed Delivery and accepted for purchase are expected to be purchased on Tuesday, October 21, 2025, but payment of accrued interest on such Notes will only be made to, but not including, the Settlement Date.

Wells Fargo Securities, LLC and Cantor Fitzgerald & Co. are lead dealer managers, and CastleOak Securities, L.P. is co-dealer manager, for the Offer. For additional information regarding the terms of the Offer, please contact Wells Fargo Securities, LLC at (704) 410-4820 (collect) or (866) 309-6316 (toll free); or Cantor Fitzgerald & Co. at (212) 610-2220. Requests for the Offer Documents may be directed to Global Bondholder Services Corporation, as tender agent, at (212) 430-3774 or (855) 654-2015 (toll-free), or by email at contact@gbsc-usa.com.

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 unlawful to make such Offer under applicable securities laws or otherwise. The distribution of materials 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 materials relating to the Offer come into your possession, you are required by Freddie Mac to inform yourself of and to observe all of these restrictions. The materials relating to the Offer do not constitute, and may not be used in connection with, an offer or solicitation in any place where offers or solicitations are not permitted by law. If a jurisdiction requires that the Offer be made by a licensed broker or dealer and a dealer-manager or any affiliate of a dealer-manager is a licensed broker or dealer in that jurisdiction, the Offer shall be deemed to be made by the dealer-manager or such affiliate on behalf of Freddie Mac in that jurisdiction.

About Freddie Mac Single-Family Credit Risk Transfer
Freddie Mac’s Single-Family CRT programs transfer credit risk away from U.S. taxpayers to global private capital via securities and (re)insurance policies. We founded the GSE Single-Family CRT market when we issued our first Structured Agency Credit Risk (STACR^®) notes in July 2013. In November 2013, we introduced our Agency Credit Insurance Structure^® (ACIS^®) program. Today, CRT serves as the primary source of private capital investment in residential mortgage credit. For specific STACR and ACIS transaction data, please visit Clarity, our CRT data intelligence portal.

About Freddie Mac
Freddie Mac’s mission is to make home possible for families across the nation. We promote liquidity, stability and affordability in the housing market throughout all economic cycles. Since 1970, we have helped tens of millions of families buy, rent or keep their home. Learn More: Website | Consumers | X | LinkedIn | Facebook | Instagram | YouTube

MEDIA CONTACT: Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com

FAQ

How much principal did Freddie Mac (FMCC) accept in the STACR tender offer on Oct 16, 2025?

Approximately $1,238,628,570 aggregate original principal was validly tendered and accepted as of Oct 16, 2025.

When will Freddie Mac (FMCC) settle the accepted STACR notes from the Oct 2025 tender?

The Settlement Date for accepted notes is expected on Oct 20, 2025; guaranteed-delivery settlements are expected on Oct 21, 2025.

Which STACR class had the highest acceptance in Freddie Mac's (FMCC) Oct 2025 tender?

STACR 2021-HQA4 M-1 had the highest reported acceptance at 99.20%.

What is the guaranteed delivery deadline for Freddie Mac's (FMCC) STACR tender offer?

The Guaranteed Delivery Deadline is 5:00 p.m. New York City time on Oct 20, 2025.

Who managed Freddie Mac's (FMCC) STACR tender offer and who is the tender agent?

Lead dealer managers were Wells Fargo Securities and Cantor Fitzgerald, co-dealer manager CastleOak Securities, and tender agent Global Bondholder Services.