FREDDIE MAC ANNOUNCES RESULTS OF TENDER OFFERS ON DEBT SECURITIES WITH EXPIRED OR EXPIRING OPTIONS
McLean, VA – Freddie Mac (NYSE: FRE) today announced the results of the cash tender offers for the repurchase of a targeted group of European-style callable debt securities, which closed at 5 p.m. EST on Friday, March 18, 2005. Results of the tender offer are also available on Freddie Mac’s debt securities web page at www.FreddieMac.com/debt.
“We are very pleased with the results of our tender offer,” said John Radwanski, Freddie Mac's assistant treasurer and vice president of debt financing. “This transaction signaled that we are committed to enhancing the liquidity and price transparency of all our debt products.”
Freddie Mac repurchased a total of $2.4 billion of the following debt securities:
| CUSIP / ISIN |
Title of Security |
Principal Amount Tendered |
Principal Amount Outstanding
Following Tender Offer |
| 3128X2LD5 |
2.625% MTN
due July 21, 2006
|
$33,140,000 |
$241,860,000 |
| 3128X2AH8 / US3128X2AH85 |
3.00% Debt Security
due November 17, 2006 |
$36,530,000 |
$437,305,000 |
| 3128X2DS1 / US3128X2DS14 |
3.00% Debt Security
due December 15, 2006 |
$125,475,000 |
$843,700,000 |
| 3128X2LS2 / US3128X2LS22 |
3.05% Debt Security
due January 19, 2007 |
$195,146,000 |
$804,854,000 |
| 3128X2TX3 |
2.75% MTN
due February 9, 2007
|
$0 |
$250,000,000 |
| 3128X2WN1 / US3128X2WN16 |
2.85% Debt Security
due February 23, 2007 |
$1,125,107,000 |
$1,074,893,000 |
| 3128X2S63 |
2.43% MTN
due March 23, 2007
|
$0 |
$500,000,000 |
| 3128X22W4 / US3128X22W42 |
2.40% Debt Security
due March 29, 2007 |
$403,107,000 |
$1,596,893,000 |
| 3128X2PA7 |
3.00% MTN
due July 27, 2007
|
$62,602,000 |
$237,398,000 |
| 3128X0L31 / US3128X0L315 |
3.25% Debt Security
due February 25, 2008 |
$405,633,000 |
$1,594,367,000 |
| Total |
|
$2,386,740,000 |
|
This press release is neither an offer to sell nor a solicitation of offers to buy any of these securities. Neither Freddie Mac, the lead manager and global coordinator, nor the co-dealer managers made any recommendation that any holder of the securities tender or refrain from tendering all or any portion of the principal amount of such holder’s securities. Freddie Mac’s securities are obligations of Freddie Mac only. The securities, including any interest or return of discount on the securities, are not guaranteed by and are not debts nor obligations of the United States or any federal agency or instrumentality other than Freddie Mac. The tender offers were made only upon the terms and subject to the conditions set forth in the Offer to Purchase [PDF 116K ] dated March 14, 2005.
Freddie Mac is a stockholder-owned company established by Congress in 1970 to support homeownership and rental housing. Freddie Mac fulfills its mission by purchasing residential mortgages and mortgage-related securities, which it finances primarily by issuing mortgage-related securities and debt instruments in the capital markets. Over the years, Freddie Mac has made home possible for one in six homebuyers in America.
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