FMCC - Freddie Mac Announces Tender Offer for Any and All of Certain STACR Notes | Benzinga

MCLEAN, Va., Sept. 06, 2023 (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 Wednesday, September 6, 2023. Certain of the classes of Notes subject to the Offer were 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 BofA Securities, Inc. and Wells Fargo Securities, LLC 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 Debt Agreement or Indenture upon the terms and subject to the conditions set forth in the Offer to Purchase dated September 6, 2023 (as amended from time to time, the "Offer to Purchase") and related Notice of Guaranteed Delivery dated September 6, 2023 (collectively with the Offer to Purchase, the "Offer Documents"). 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 Wednesday, September 6, 2023, and expire at 5 p.m. New York City time on Tuesday, September 12, 2023 (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 Notes validly tendered may be withdrawn at any time at or prior to 5 p.m., New York City time, on Tuesday, September 12, 2023, unless extended by Freddie Mac, but not thereafter (except in certain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 Thursday, September 14, 2023. Any Notes tendered using the Notice of Guaranteed Delivery and accepted for purchase are expected to be purchased on Friday, September 15, 2023, but payment of accrued interest on such Notes will only be made to, but not including, the Settlement Date.

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