Freddie Mac Announces Results of Tender Offer for Certain STACR Notes

BY GlobeNewswire | AGENCY | 11/10/23 09:00 AM EST

MCLEAN, Va., Nov. 10, 2023 (GLOBE NEWSWIRE) -- Freddie Mac (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 STACR trusts 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 November 3, 2023 (the ?Offer to Purchase?) and related Notice of Guaranteed Delivery dated November 3, 2023 (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, November 9, 2023 (the ?Expiration Time?), approximately $2.1 billion aggregate original principal amount of the Notes had been validly tendered and not properly withdrawn as set forth in the table below: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 SecuritySTACR Trust
(if applicable)
CUSIP Number
(Rule 144a / Regulation S)
ISIN Number
(Rule 144a / Regulation S)
Original
Principal
Amount
Percentage
of Original
Principal
Amount
Tendered
and
Accepted
1
Original
Principal
Amount
Tendered and
Accepted

STACR 2018-DNA2 M-2Freddie Mac
STACR Trust
2018-DNA2
35563TAB7 / N/AUS35563TAB70 / N/A$7,280,000??58.79%$4,280,000??
STACR 2018-DNA3 M-2Freddie Mac
STACR Trust
2018-DNA3
35563WAH7 / N/AUS35563WAH79 / N/A8,738,541??6.45%563,541??
STACR 2018-HQA1 M-2N/A3137G0UD9 / N/AUS3137G0UD91 / N/A196,762,879??98.16%193,132,879??
STACR 2018-HRP1 B-1Freddie Mac
STACR Trust
2018-HRP1
3137G0VA4 / N/AUS3137G0VA44 / N/A25,981,410??2.40%624,212??
STACR 2019-DNA3 M-2Freddie Mac
STACR Trust
2019-DNA3
35564TAH3 / N/AUS35564TAH32 / N/A179,216,019??95.54%171,216,019??
STACR 2019-FTR2 M-2Freddie Mac
STACR Trust
2019-FTR2
35564WAH6 / N/AUS35564WAH60 / N/A34,332,503??100.00%34,332,503??
STACR 2020-DNA1 B-1Freddie Mac
STACR REMIC
Trust 2020-
DNA1
35565HBD6 / N/AUS35565HBD61 / N/A106,000,000??39.43%41,794,756??
STACR 2020-DNA1 M-2Freddie Mac
STACR REMIC
Trust 2020-
DNA1
35565HAH8 / U3198MAH7US35565HAH84 / USU3198MAH70350,000,000??86.10%301,341,439??
STACR 2020-DNA2 B-1Freddie Mac
STACR REMIC
Trust 2020-
DNA2
35565KBD9 / N/AUS35565KBD90 / N/A156,000,000??85.33%133,115,000??
STACR 2020-DNA2 M-2Freddie Mac
STACR REMIC
Trust 2020-
DNA2
35565KAH1 / N/AUS35565KAH14 / N/A437,000,000??89.46%390,934,000??
STACR 2020-HQA1 B-1Freddie Mac
STACR REMIC
Trust 2020-
HQA1
35565JBD2 / N/AUS35565JBD28 / N/A87,000,000??89.04%77,465,000??
STACR 2020-HQA1 M-2Freddie Mac
STACR REMIC
Trust 2020-
HQA1
35565JAH4 / N/AUS35565JAH41 / N/A330,000,000??99.09%327,000,000??
STACR 2020-HQA2 M-2Freddie Mac
STACR REMIC
Trust 2020-
HQA2
35565LAH9 / N/AUS35565LAH96 / N/A478,000,000??97.76%467,306,000??
Total$2,143,105,349??
? ?1 Rounded to the nearest hundredth of a percent.
?

The settlement date for the Notes tendered and accepted for purchase in the Offer is expected to occur on Tuesday, November 14, 2023.

Wells Fargo Securities, LLC and BofA Securities, Inc. are lead dealer managers, and Academy Securities, Inc. is co-dealer manager for the Offer. For additional information regarding the terms of the Offer, please contact Wells Fargo Securities, LLC at (704) 410-4756 or (866) 309-6316 (toll free); or BofA Securities, Inc. at (980) 387-3907 or (888) 292-0070 (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, affordability and equity 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 | Twitter | LinkedIn | Facebook | Instagram | YouTube.

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

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Source: Freddie Mac

In general the bond market is volatile, and fixed income securities carry interest rate risk. (As interest rates rise, bond prices usually fall, and vice versa. This effect is usually more pronounced for longer-term securities.) Fixed income securities also carry inflation risk and credit and default risks for both issuers and counterparties. Unlike individual bonds, most bond funds do not have a maturity date, so avoiding losses caused by price volatility by holding them until maturity is not possible.

Lower-quality debt securities generally offer higher yields, but also involve greater risk of default or price changes due to potential changes in the credit quality of the issuer. Any fixed income security sold or redeemed prior to maturity may be subject to loss.

Before investing, consider the funds' investment objectives, risks, charges, and expenses. Contact Fidelity for a prospectus or, if available, a summary prospectus containing this information. Read it carefully.

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