Freddie Mac Announces Results of Tender Offer for Certain STACR Notes
Freddie Mac (OTCQB: FMCC) has announced the results of its tender offer for various STACR (Structured Agency Credit Risk) Notes. As of May 6, 2025, approximately $1.7 billion aggregate original principal amount of Notes had been validly tendered. The tender offer was conducted according to conditions set in the Offer Documents dated April 30, 2025.
Notable tender results include 84.16% acceptance of STACR 2022-DNA4 M-1A ($466.3M), 78.89% of STACR 2022-DNA2 M-1B ($470.9M), and 78.55% of STACR 2022-DNA3 M-1A ($527.9M). The settlement date is expected on May 8, 2025, with guaranteed delivery purchases scheduled for May 12, 2025.
The tender offer is being managed by BofA Securities and Wells Fargo Securities as lead dealer managers, with CastleOak Securities as co-dealer manager.Freddie Mac (OTCQB: FMCC) ha annunciato i risultati della sua offerta di acquisto per varie Note STACR (Structured Agency Credit Risk). Al 6 maggio 2025, è stato validamente offerto un ammontare aggregato originale di Note pari a circa 1,7 miliardi di dollari. L'offerta è stata condotta secondo le condizioni stabilite nei Documenti dell'Offerta datati 30 aprile 2025.
I risultati più significativi includono un'accettazione del 84,16% per STACR 2022-DNA4 M-1A (466,3 milioni di dollari), del 78,89% per STACR 2022-DNA2 M-1B (470,9 milioni di dollari) e del 78,55% per STACR 2022-DNA3 M-1A (527,9 milioni di dollari). La data di regolamento è prevista per l'8 maggio 2025, con acquisti a consegna garantita programmati per il 12 maggio 2025.
L'offerta è gestita da BofA Securities e Wells Fargo Securities come principali dealer manager, con CastleOak Securities come co-dealer manager.
Freddie Mac (OTCQB: FMCC) ha anunciado los resultados de su oferta pública de compra para varias Notas STACR (Structured Agency Credit Risk). Al 6 de mayo de 2025, se habían entregado válidamente notas por un importe agregado original aproximado de 1,7 mil millones de dólares. La oferta se llevó a cabo conforme a las condiciones establecidas en los Documentos de la Oferta fechados el 30 de abril de 2025.
Los resultados destacados incluyen una aceptación del 84,16% para STACR 2022-DNA4 M-1A (466,3 millones de dólares), del 78,89% para STACR 2022-DNA2 M-1B (470,9 millones de dólares) y del 78,55% para STACR 2022-DNA3 M-1A (527,9 millones de dólares). La fecha de liquidación está prevista para el 8 de mayo de 2025, con compras de entrega garantizada programadas para el 12 de mayo de 2025.
La oferta está siendo gestionada por BofA Securities y Wells Fargo Securities como principales gestores, con CastleOak Securities como co-gestor.
프레디맥(OTCQB: FMCC)은 다양한 STACR(Structured Agency Credit Risk) 노트에 대한 공개 매수 결과를 발표했습니다. 2025년 5월 6일 기준으로 약 17억 달러의 원금 총액이 유효하게 제출되었습니다. 공개 매수는 2025년 4월 30일자 제안 문서에 명시된 조건에 따라 진행되었습니다.
주요 공개 매수 결과로는 STACR 2022-DNA4 M-1A(4억 6,630만 달러)에서 84.16%, STACR 2022-DNA2 M-1B(4억 7,090만 달러)에서 78.89%, STACR 2022-DNA3 M-1A(5억 2,790만 달러)에서 78.55%의 수용률이 있었습니다. 결제일은 2025년 5월 8일로 예정되어 있으며, 보증 인도 구매는 2025년 5월 12일에 예정되어 있습니다.
본 공개 매수는 BofA Securities와 Wells Fargo Securities가 주요 딜러 매니저로, CastleOak Securities가 공동 딜러 매니저로 관리하고 있습니다.
Freddie Mac (OTCQB : FMCC) a annoncé les résultats de son offre publique d'achat pour diverses obligations STACR (Structured Agency Credit Risk). Au 6 mai 2025, environ 1,7 milliard de dollars de montant principal original agrégé avaient été valablement proposés. L'offre a été menée conformément aux conditions fixées dans les documents d'offre datés du 30 avril 2025.
Les résultats notables incluent un taux d'acceptation de 84,16% pour STACR 2022-DNA4 M-1A (466,3 millions de dollars), de 78,89% pour STACR 2022-DNA2 M-1B (470,9 millions de dollars) et de 78,55% pour STACR 2022-DNA3 M-1A (527,9 millions de dollars). La date de règlement est prévue pour le 8 mai 2025, avec des achats à livraison garantie programmés pour le 12 mai 2025.
L'offre est gérée par BofA Securities et Wells Fargo Securities en tant que chefs de file, avec CastleOak Securities en tant que co-gestionnaire.
Freddie Mac (OTCQB: FMCC) hat die Ergebnisse seines Übernahmeangebots für verschiedene STACR (Structured Agency Credit Risk) Notes bekanntgegeben. Zum 6. Mai 2025 wurden gültig etwa 1,7 Milliarden US-Dollar des ursprünglichen Gesamtnennwerts der Notes angeboten. Das Übernahmeangebot wurde gemäß den Bedingungen in den Angebotsunterlagen vom 30. April 2025 durchgeführt.
Bemerkenswerte Ergebnisse sind eine Annahmequote von 84,16% für STACR 2022-DNA4 M-1A (466,3 Mio. USD), 78,89% für STACR 2022-DNA2 M-1B (470,9 Mio. USD) und 78,55% für STACR 2022-DNA3 M-1A (527,9 Mio. USD). Das Abwicklungsdatum ist für den 8. Mai 2025 geplant, mit garantierten Lieferkäufen am 12. Mai 2025.
Das Übernahmeangebot wird von BofA Securities und Wells Fargo Securities als leitende Händler verwaltet, mit CastleOak Securities als Co-Dealer-Manager.
- High acceptance rates for several major notes, including 84.16% for STACR 2022-DNA4 M-1A
- Successful tender of approximately $1.7 billion in aggregate original principal amount
- Strong participation in recent vintage notes (2022 series)
- Low or zero participation rates in several older vintage notes
- Some notes showing minimal tender rates below 10%
MCLEAN, Va., May 07, 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 April 30, 2025 (the “Offer to Purchase”) and related Notice of Guaranteed Delivery dated April 30, 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 Tuesday, May 6, 2025 (the “Expiration Time”), approximately
| 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 2016-DNA4 B | N/A | 3137G0LK3 / N/A | US3137G0LK36 / N/A | ||||
| STACR 2017-DNA1 M-2 | N/A | 3137G0MD8 / N/A | US3137G0MD83 / N/A | - | |||
| STACR 2017-DNA1 B-2 | N/A | 3137G0MY2 / N/A | US3137G0MY21 / N/A | ||||
| STACR 2017-DNA2 M-2 | N/A | 3137G0NX3 / N/A | US3137G0NX39 / N/A | - | |||
| STACR 2017-DNA2 B-1 | N/A | 3137G0PR4 / N/A | US3137G0PR43 / N/A | ||||
| STACR 2017-DNA2 B-2 | N/A | 3137G0PS2 / N/A | US3137G0PS26 / N/A | ||||
| STACR 2017-DNA3 M-2 | N/A | 3137G0QQ5 / N/A | US3137G0QQ50 / N/A | - | |||
| STACR 2017-DNA3 B-1 | N/A | 3137G0RJ0 / N/A | US3137G0RJ09 / N/A | - | |||
| STACR 2017-HQA1 M-2 | N/A | 3137G0NE5 / N/A | US3137G0NE57 / N/A | - | |||
| STACR 2017-HQA1 B-2 | N/A | 3137G0ND7 / N/A | US3137G0ND74 / N/A | - | |||
| STACR 2017-HQA2 M-2 | N/A | 3137G0PU7 / N/A | US3137G0PU71 / N/A | - | |||
| STACR 2018-DNA1 M-2 | N/A | 3137G0TH2 / N/A | US3137G0TH25 / N/A | ||||
| STACR 2018-DNA2 M-2 | Freddie Mac STACR Trust 2018-DNA2 | 35563TAB7 / N/A | US35563TAB70 / N/A | - | |||
| STACR 2018-DNA2 B-1 | Freddie Mac STACR Trust 2018-DNA2 | 35563TAV3 / N/A | US35563TAV35 / N/A | ||||
| STACR 2018-DNA3 M-2 | Freddie Mac STACR Trust 2018-DNA3 | 35563WAH7 / N/A | US35563WAH79 / N/A | ||||
| STACR 2018-DNA3 B-1 | Freddie Mac STACR Trust 2018-DNA3 | 35563WBD5 / N/A | US35563WBD56 / N/A | - | |||
| STACR 2018-HQA1 B-1 | N/A | 3137G0UX5 / N/A | US3137G0UX55 / N/A | - | |||
| STACR 2019-DNA4 B-2 | Freddie Mac STACR REMIC Trust 2019-DNA4 | 35565ABE9 / U3202KBE1 | US35565ABE91 / USU3202KBE11 | ||||
| STACR 2019-FTR2 B-1 | Freddie Mac STACR Trust 2019-FTR2 | 35564WBD4 / N/A | US35564WBD48 / N/A | ||||
| STACR 2019-FTR4 B-2 | Freddie Mac STACR Trust 2019-FTR4 | 35565GAE7 / U3202TAE3 | US35565GAE70 / USU3202TAE39 | ||||
| STACR 2019-HQA3 B-2 | Freddie Mac STACR Trust 2019-HQA3 | 35564XBE0 / N/A | US35564XBE04 / N/A | ||||
| STACR 2019-HRP1 B-1 | Freddie Mac STACR Trust 2019-HRP1 | 35564RCB8 / N/A | US35564RCB87 / N/A | ||||
| STACR 2019-HRP1 B-2 | Freddie Mac STACR Trust 2019-HRP1 | 35564RCC6 / N/A | US35564RCC60 / N/A | ||||
| STACR 2020-DNA1 B-1 | Freddie Mac STACR REMIC Trust 2020-DNA1 | 35565HBD6 / U3198MBD5 | US35565HBD61 / USU3198MBD57 | - | |||
| STACR 2022-DNA1 M-1A | Freddie Mac STACR REMIC Trust 2022-DNA1 | 35564KPU7 / U3201WPU5 | US35564KPU78 / USU3201WPU53 | ||||
| STACR 2022-DNA1 M-1B | Freddie Mac STACR REMIC Trust 2022-DNA1 | 35564KPV5 / U3201WPV3 | US35564KPV51 / USU3201WPV37 | ||||
| STACR 2022-DNA2 M-1B | Freddie Mac STACR REMIC Trust 2022-DNA2 | 35564KRF8 / U3201WRF6 | US35564KRF83 / USU3201WRF68 | ||||
| STACR 2022-DNA3 M-1A | Freddie Mac STACR REMIC Trust 2022-DNA3 | 35564KUW7 / U3201WUW5 | US35564KUW79 / USU3201WUW54 | ||||
| STACR 2022-DNA4 M-1A | Freddie Mac STACR REMIC Trust 2022-DNA4 | 35564KWS4 / U3201WWS2 | US35564KWS40 / USU3201WWS25 | ||||
| STACR 2022-HQA1 M-1B | Freddie Mac STACR REMIC Trust 2022-HQA1 | 35564KTB5 / U3201WTB3 | US35564KTB51 / USU3201WTB37 | ||||
| Total | $1,701,327,011 | ||||||
- Rounded to the nearest hundredth of a percent.
- For STACR 2016-DNA4 B, STACR 2019-DNA4 B-2, STACR 2019-FTR2 B-1, STACR 2019-FTR4 B-2, STACR 2019-HQA3 B-2, STACR 2019-HRP1 B-1, STACR 2022-DNA1 M-1B, STACR 2022-DNA2 M-1B and STACR 2022-DNA3 M-1A, the original principal amount tendered and accepted includes
$21,510,000 ,$3,016,000 ,$27,250,000 ,$2,800,000 ,$3,244,000 ,$11,520,000 ,$450,000 ,$41,281,000 and$5,000,000 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 Thursday, May 8, 2025. - 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 Thursday, May 8, 2025. Any Notes tendered using the Notice of Guaranteed Delivery and accepted for purchase are expected to be purchased on Monday, May 12, 2025, but payment of accrued interest on such Notes will only be made to, but not including, the Settlement Date.
BofA Securities, Inc. and Wells Fargo Securities, LLC 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 BofA Securities, Inc. at (980) 387-3907 (collect) or (888) 292-0070 (toll-free); or Wells Fargo Securities, LLC at (704) 410-4820 (collect) or (866) 309-6316 (toll free). 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
What is the total value of STACR notes tendered in Freddie Mac's May 2025 offer?
When is the settlement date for Freddie Mac's STACR notes tender offer?
Which STACR notes had the highest tender acceptance rate in FMCC's offer?
Who are the dealer managers for Freddie Mac's 2025 STACR tender offer?
