Fannie Mae Announces Results of Tender Offer for Any and All of Certain CAS Notes
Fannie Mae (OTCQB: FNMA) announced results of fixed-price cash tender offers for certain Connecticut Avenue Securities notes, showing $2,000,415,199 in original principal amount tendered and accepted, representing 88.87% of the aggregate $2,250,877,000 original principal balance.
Several classes were fully accepted (100.00%), including Series 2017-C03 Class 1B-1 and Series 2020-SBT1 Class 2M-2. Settlement for accepted Notes is expected on October 7, 2025, with Notes tendered via Notice of Guaranteed Delivery expected to be purchased on October 8, 2025. Dealer managers and agents for the Offers are named in the announcement.
Fannie Mae (OTCQB: FNMA) ha annunciato i risultati delle offerte di tender in contanti a prezzo fisso per alcune note Connecticut Avenue Securities, mostrando 2,000,415,199 di capitale originale offerto e accettato, pari all'88.87% del saldo originale complessivo di 2,250,877,000.
Diverse classi sono state interamente accettate (100.00%), tra cui Series 2017-C03 Class 1B-1 e Series 2020-SBT1 Class 2M-2. Il regolamento per le Notes accettate è previsto per il 7 ottobre 2025, con le Notes tendered tramite Notice of Guaranteed Delivery che dovranno essere acquistate l'8 ottobre 2025. I responsabili e gli agenti delle offerte sono indicati nell'annuncio.
Fannie Mae (OTCQB: FNMA) anunció los resultados de las ofertas de tender en efectivo a precio fijo para ciertas notas de Connecticut Avenue Securities, mostrando 2,000,415,199 de monto principal original tendered y aceptado, que representa 88.87% del saldo principal original agregado de 2,250,877,000.
Varias clases fueron aceptadas en su totalidad (100.00%), incluidas Series 2017-C03 Class 1B-1 y Series 2020-SBT1 Class 2M-2. El acuerdo para las Notas aceptadas se espera para el 7 de octubre de 2025, con las Notas tendered mediante Notificación de Entrega Garantizada que se espera sean compradas el 8 de octubre de 2025. Los gerentes de negociación y agentes de las Ofertas se indican en el anuncio.
Fannie Mae (OTCQB: FNMA) 은 Connecticut Avenue Securities 채권의 특정 고정가 현금 매 tender 의 결과를 발표했으며, 원래 원금 규모가 2,000,415,199로 입찰되고 수락되었고, 이는 총 원금 잔액 2,250,877,000의 88.87%에 해당합니다.
여러 계열이 전액 수락되었습니다(100.00%), 포함 예 Series 2017-C03 Class 1B-1 및 Series 2020-SBT1 Class 2M-2. 수락된 Notes의 결제는 2025년 10월 7일로 예상되며, 보장된 양도 통지(Notic e of Guaranteed Delivery)를 통해 입찰된 Notes는 2025년 10월 8일에 매입될 예정입니다. 제안의 딜러 관리인 및 대리인은 발표에 명시되어 있습니다.
Fannie Mae (OTCQB: FNMA) a annoncé les résultats des offres d'achat en espèces à prix fixe pour certaines notes Connecticut Avenue Securities, affichant 2,000,415,199 de montant principal initial offert et accepté, représentant 88,87% du solde principal initial total de 2,250,877,000.
Plusieurs classes ont été entièrement acceptées (100,00%), y compris Series 2017-C03 Class 1B-1 et Series 2020-SBT1 Class 2M-2. Le règlement des Notes acceptées est prévu pour le 7 octobre 2025, les Notes tendered via Notice of Guaranteed Delivery devant être achetées le 8 octobre 2025. Les responsables et agents des Offres sont indiqués dans l'annonce.
Fannie Mae (OTCQB: FNMA) gab Ergebnisse der Festpreis-Cash-Tender-Angebote für bestimmte Connecticut Avenue Securities Notes bekannt, wobei 2,000,415,199 als ursprünglicher Nennbetrag tilbudt und akzeptiert wurden und 88,87% des aggregierten ursprünglichen Nennbetrags von 2,250,877,000 darstellen.
Mehrere Klassen wurden vollständig akzeptiert (100,00%), darunter Series 2017-C03 Class 1B-1 und Series 2020-SBT1 Class 2M-2. Die Abwicklung der akzeptierten Notes wird voraussichtlich am 7. Oktober 2025 erfolgen, wobei Notes, die über Notice of Guaranteed Delivery angeboten wurden, voraussichtlich am 8. Oktober 2025 gekauft werden. Die Dealer-Managers und Agents für die Angebote sind in der Ankündigung genannt.
Fannie Mae (OTCQB: FNMA) أعلنت عن نتائج عروض الشراء النقدي بسعر ثابت لبعض أسهم Connecticut Avenue Securities، حيث يظهر 2,000,415,199 من رأس المال الأصلي المعروض والمقبول، ممثلاً 88.87% من الرصيد الأصلي الإجمالي البالغ 2,250,877,000.
تم قبول عدة فئات بشكل كامل (100.00%)، بما في ذلك Series 2017-C03 Class 1B-1 وSeries 2020-SBT1 Class 2M-2. من المتوقع أن تتم تسوية Notes المقبولة في 7 أكتوبر 2025، مع Notes التي تم تقديمها عبر Notice of Guaranteed Delivery التي من المتوقع شراؤها في 8 أكتوبر 2025. المدراء المتعاملون ووكلاء العروض مذكورون في الإعلان.
Fannie Mae (OTCQB: FNMA) 公布了针对某些 Connecticut Avenue Securities 票据的固定价格现金投标要约结果,显示原始本金金额为 2,000,415,199 的投标并已被接受,约占原始本金余额 2,250,877,000 的 88.87%。
多个类别被全部接受(100.00%),包括 Series 2017-C03 Class 1B-1 和 Series 2020-SBT1 Class 2M-2。接受票据的结算预计于 2025年10月7日 完成,通过承诺保函送达通知(Notice of Guaranteed Delivery)投标的票据预计将于 2025年10月8日 购买。投标的交易管理人和代理人见公告所列。
- Accepted notes totaling $2,000,415,199 (88.87% of $2,250,877,000)
- Series 2017-C03 Class 1B-1 tendered and accepted at 100.00%
- Series 2020-SBT1 Class 2M-2 tendered and accepted at 100.00%
- Multiple 2022 classes received strong participation (81.03%–94.83%)
- Series 2018-C04 Class 2B-1 received 0.00% participation
- Series 2017-C06 Class 2B-1 participation was only 1.01%
- $27,281,728 of accepted Notes settled via guaranteed delivery on a later date
A total of
Name of Security |
Trust |
CUSIP |
ISIN |
Original Principal Balance 1 |
Percentage of Original Principal Amount Tendered2 |
Original Principal Amount Tendered3 |
Connecticut Avenue Securities, Series 2017-C03, Class 1B-1 Notes |
N/A |
30711XJW5 |
US30711XJW56 |
|
100.00 % |
|
Connecticut Avenue Securities, Series 2017-C06, Class 2B-1 Notes |
N/A |
30711XSW5 |
US30711XSW55 |
|
1.01 % |
|
Connecticut Avenue Securities, Series 2017-C07, Class 1B-1 Notes |
N/A |
30711XUW2 |
US30711XUW28 |
|
85.33 % |
|
Connecticut Avenue Securities, Series 2018-C04, Class 2B-1 Notes |
N/A |
30711XR30 |
US30711XR309 |
|
0.00 % |
- |
Connecticut Avenue Securities, Series 2018-C06, Class 2B-1 Notes |
N/A |
30711X5V2 |
US30711X5V23 |
|
39.78 % |
|
Connecticut Avenue Securities, Series 2020-SBT1, Class 2M-2 Notes |
Connecticut Avenue Securities Trust 2020-SBT1 |
20753VCZ9 |
US20753VCZ94 |
|
100.00 % |
|
Connecticut Avenue Securities, Series 2021-R02, Class 2M-2 Notes |
Connecticut Avenue Securities REMIC Trust 2021-R02 |
20754KAB7 |
US20754KAB70 |
|
84.73 % |
|
Connecticut Avenue Securities, Series 2022-R01, Class 1M-2 Notes |
Connecticut Avenue Securities REMIC Trust 2022-R01 |
20754LAB5 |
US20754LAB53 |
|
81.03 % |
|
Connecticut Avenue Securities, Series 2022-R06, Class 1M-1 Notes |
Connecticut Avenue Securities REMIC Trust 2022-R06 |
20754NAB1 |
US20754NAB10 |
|
92.61 % |
|
Connecticut Avenue Securities, Series 2022-R07, Class 1M-1 Notes |
Connecticut Avenue Securities REMIC Trust 2022-R07 |
20754MBZ9 |
US20754MBZ95 |
|
93.49 % |
|
Connecticut Avenue Securities, Series 2022-R08, Class 1M-1 Notes |
Connecticut Avenue Securities REMIC Trust 2022-R08 |
20755DAA4 |
US20755DAA46 |
|
94.83 % |
|
|
|
|
|
|
88.87 % |
|
|
1 Represents the aggregate original principal amount of the applicable Class issued on the issue date thereof, less the aggregate original principal amount of such Class repurchased by the Company pursuant to one or more prior tender offers, if applicable. |
2 Rounded to the nearest hundredth of a percent. |
3 Original Principal Amount tendered includes |
The settlement date for the Notes tendered and accepted for purchase in the Offers is expected to occur on Tuesday, October 7, 2025 (the "Settlement Date"). Any Notes tendered and accepted for purchase in the Offers using the Notice of Guaranteed Delivery are expected to be purchased on October 8, 2025.
BoA Securities acted as the designated lead dealer manager and Wells Fargo Securities acted as the designated dealer manager for the Offers. Global Bondholder Services Corporation was engaged as the tender agent and information agent for the Offers.
Related Links:
CAS Debt Tender Offer Press Release
CAS Notes Tender Offer Frequently Asked Questions
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This press release does not constitute an offer to sell or the solicitation of an offer to buy securities of Fannie Mae, including the Notes. Nothing in this press release constitutes advice on the merits of buying or selling a particular investment. Any investment decision as to any purchase or sale of securities referred to herein must be made solely on the basis of information contained in the Offer Documents, and no reliance may be placed on the completeness or accuracy of the information contained in this press release. The Offers are not being made to holders of the Notes in any jurisdiction in which the making or acceptance thereof would not be in compliance with the securities, blue sky or other laws of such jurisdiction. In any jurisdiction in which the securities laws or blue sky laws require the Offer to be made by a licensed broker or dealer, the Offer will be deemed to be made on behalf of the Company by BofA Securities Inc or Wells Fargo Securities, LLC (as applicable) or one or more registered brokers or dealers that are licensed under the laws of such jurisdiction.
You should not deal in securities unless you understand their nature and the extent of your exposure to risk. You should be satisfied that they are suitable for you in light of your circumstances and financial position. If you are in any doubt you should consult an appropriately qualified financial advisor.
This release includes forward-looking statements, including statements relating to the timing and expected settlement and closing of the purchase of the Notes in a tender offer. These forward-looking statements are based on Fannie Mae's present intent, beliefs or expectations, but forward-looking statements are not guaranteed to occur and may not occur. Actual results may turn out to be different from these statements. Factors that may lead to different results are discussed in "Risk Factors," "Forward-Looking Statements," and elsewhere in the Offer Documents and the documents incorporated by reference therein. All forward-looking statements are made as of the date of this press release, and Fannie Mae assumes no obligation to update this information.
Connecticut Avenue Securities is a registered mark of Fannie Mae. Unauthorized use of this mark is prohibited.
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