Tender Freddie

Category: Capital Relief Trades

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GSE has commenced a debut buyback scheme to retire old STACR issuance

Freddie Mac yesterday (September 7) inaugurated its first-ever tender offer programme to buy back STACR notes to reduce indebtedness, the agency told SCI last night.

The tender offer period will run until midnight EDT on October 4 and will be managed by co-managers Barclays Capital and Bank of America. Freddie will buy back up to $650m in aggregate original principal amount, targeting eight deals priced in the last seven years.

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