Freddie Mac Announces Tender Offer for Any and All of Certain STACR Notes
Payments for accepted notes include accrued and unpaid interest, with settlement expected November 3, 2026.
Sentiment and the balance of points
Rhea-AI Sentiment reads the wording of the document, how positive or negative its language is on a 1 to 5 scale. The balance of points shown with the takes weighs what the document actually discloses, so the two can disagree, for example when a trial that missed its main goal is described in upbeat language.
Rhea-AI Summary
Freddie Mac (FMCC) has launched a fixed-price cash tender offer to purchase any and all notes from five STACR classes. STACR stands for Structured Agency Credit Risk. The offer expires at 5 p.m. New York City time on October 30, 2026, unless extended. Freddie Mac expects settlement on November 3, 2026.
Consideration per $1,000 original principal amount is $1,096.25 for 2020-HQA5 B-1; $1,135.00 for 2021-DNA3 B-1; $1,064.90 for 2021-DNA5 B-1; $1,110.00 for 2021-HQA1 B-1; and $1,035.17 for 2023-DNA2 M-1B. Payment depends on the original principal tendered and accepted, the applicable factor and the quoted consideration, plus accrued and unpaid interest. Notes may generally be withdrawn until the expiration deadline. Freddie Mac is the sole beneficial owner of each issuing trust.
How this balance works
Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.
It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.
Rhea-AI Sentiment measures something else, the tone of the wording.
Positive
- Moderate pointThe cash tender offer provides a repurchase opportunity for any and all notes in five STACR classes.
Negative
- Moderate pointCash purchase obligations use consideration per $1,000 original principal: 2020-HQA5 B-1, $1,096.25; 2021-DNA3 B-1, $1,135.00; 2021-DNA5 B-1, $1,064.90; 2021-HQA1 B-1, $1,110.00; 2023-DNA2 M-1B, $1,035.17, with applicable factors and accrued interest.
News Explained
The commenced offer covers five note classes with listed original principal of
AI-generated analysis. How Rhea-AI works. Not financial advice.
MCLEAN, Va., Oct. 26, 2026 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today announced that it has commenced a fixed-price cash tender offer (the “Offer”) for the purchase of any and all of the STACR® (Structured Agency Credit Risk) Notes listed in the table below (the “Notes”) beginning Monday, October 26, 2026. Each of the classes of Notes subject to the Offer was issued by the 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.
Freddie Mac has engaged Wells Fargo Securities, LLC and Cantor Fitzgerald & Co. as lead dealer managers (the “Lead Dealer Managers”) and CastleOak Securities, L.P. as co-dealer manager (the “Co-Dealer Manager” and, collectively with the Lead Dealer Managers, the “Dealer Managers”) for the Offer. Freddie Mac is offering to purchase any and all of the Notes listed. The applicable Total Consideration to be paid by Freddie Mac to holders that tender Notes accepted for purchase pursuant to the Offer will be calculated based on the original principal amount of such tendered and accepted Notes, the applicable factor, and the applicable Tender Offer Consideration identified in the table below, plus any accrued and unpaid interest under the applicable Indenture upon the terms and subject to the conditions set forth in the Offer to Purchase dated October 26, 2026 (as amended from time to time, the “Offer to Purchase”). Capitalized terms used and not otherwise defined herein will have the meaning ascribed to such terms in the Offer to Purchase.
The tender offer period will commence on Monday, October 26, 2026, and expire at 5 p.m., New York City time, on Friday, October 30, 2026 (the “Expiration Time”), unless extended. Holders must validly tender their Notes at or prior to the Expiration Time. Notes validly tendered may be withdrawn at any time at or prior to 5 p.m., New York City time, on Friday, October 30, 2026, unless extended by Freddie Mac, but not thereafter (except in certain limited circumstances where additional withdrawal rights are granted by Freddie Mac or otherwise required by law).
Holders whose Notes are purchased in the Offer will receive accrued and unpaid interest from the last interest payment date to, but not including, the Settlement Date (as defined in the Offer to Purchase) for the Notes. Freddie Mac expects the Settlement Date to occur on Tuesday, November 3, 2026.
| Title of Security | STACR Trust | CUSIP Number (Rule 144A / Regulation S) | ISIN Number (Rule 144A / Regulation S) | Original Principal Amount | Tender Offer Consideration (per original principal amount) | ||
| STACR 2020-HQA5 B-1 | Freddie Mac STACR REMIC Trust 2020-HQA5 | 35565TBD0 / U3197KBD0 | US35565TBD00 / USU3197KBD01 | ||||
| STACR 2021-DNA3 B-1 | Freddie Mac STACR REMIC Trust 2021-DNA3 | 35564KFG9 / U3201WFG7 | US35564KFG94 / USU3201WFG79 | ||||
| STACR 2021-DNA5 B-1 | Freddie Mac STACR REMIC Trust 2021-DNA5 | 35564KJA8 / U3201WJA6 | US35564KJA88 / USU3201WJA63 | ||||
| STACR 2021-HQA1 B-1 | Freddie Mac STACR REMIC Trust 2021-HQA1 | 35564KCN7 / U3201WCN5 | US35564KCN72 / USU3201WCN57 | ||||
| STACR 2023-DNA2 M-1B | Freddie Mac STACR REMIC Trust 2023-DNA2 | 35564KT66 / U3201WT56 | US35564KT664 / USU3201WT560 | ||||
This announcement is neither an offer to buy nor a solicitation of offers to buy any of these securities. None of Freddie Mac, the Dealer Managers, or the Information Agent make any recommendation that any holder of the securities tender or refrain from tendering all or any portion of the original principal amount of such holder’s securities. Holders must make their own decisions whether to tender securities, and if so, decide on the original principal amount of securities to tender.
The Offer is being made only upon the terms and subject to the conditions set forth in the Offer to Purchase. Copies of the Offer to Purchase may be obtained on Freddie Mac’s website at https://capitalmarkets.freddiemac.com/crt/securities or from the Information Agent for the Offer, Global Bondholder Services Corporation’s website at https://www.gbsc-usa.com/FreddieMac, or by calling (212) 430-3774 or (855) 654-2015 (toll-free). Questions regarding the Offer may be directed to Wells Fargo Securities, LLC at (704) 410-4820 or (866) 309-6316 (toll-free); Cantor Fitzgerald & Co. at (212) 610-2220; or Global Bondholder Services Corporation, as tender agent, at (212) 430-3774 or (855) 654-2015 (toll-free).
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 | LinkedIn | Facebook | X | Instagram | YouTube
MEDIA CONTACT: Fred Solomon
703-903-3861
Frederick_Solomon@freddiemac.com
FAQ
AI-generated questions and answers. How Rhea-AI works. Not financial advice.
When does Freddie Mac's STACR tender offer expire and settle?
The offer expires at 5 p.m. New York City time on October 30, 2026, unless extended, and Freddie Mac expects settlement on November 3, 2026. Holders must validly tender their notes by the expiration deadline.
How can holders participate in Freddie Mac's STACR tender offer or withdraw notes?
Holders must follow the Offer to Purchase, available at https://capitalmarkets.freddiemac.com/crt/securities or https://www.gbsc-usa.com/FreddieMac, and validly tender by the deadline. Withdrawals are permitted until 5 p.m. New York City time on October 30, 2026, unless extended; afterward, only limited additional withdrawal rights apply.
What interest will Freddie Mac pay on STACR notes accepted in the tender offer?
Purchased notes receive accrued and unpaid interest from the last interest payment date to, but not including, the settlement date. This interest is paid in addition to the purchase consideration calculated using original principal, the applicable factor and the quoted tender consideration.