Home / News / Government / Freddie Mac Prices Second STACR Risk-Sharing Deal
Print This Post Print This Post

Freddie Mac Prices Second STACR Risk-Sharing Deal

""Freddie Mac"":http://www.freddiemac.com/ announced Tuesday it has priced a $630 million offering of Structured Agency Credit Risk (STACR) debt notes, marking the second STACR offering in which private sources--not taxpayers--took on the credit risk.

[IMAGE] [COLUMN_BREAK]

""STACR is part of Freddie Mac's strategy to share credit risk with private investors while also fostering an agency credit market,"" said David Lowman, EVP of single-family business for the GSE. ""With two successful STACR offerings under our belt, we are well on our way to having a scalable offering with regular issuances. We are pleased with the markets' acceptance of these bonds.""

According to a release, about 50 broadly-diversified investors participated in the offering for the debt notes. The offering was oversubscribed and is scheduled to settle November 12. This year's earlier STACR offering settled in July ""and was well-received by the market,"" Freddie Mac said.

The notes were offered to the market by Barclays Capital as co-lead manager and sole bookrunner and by Morgan Stanley as co-lead manager. Nomura, RBS, and Wells Fargo each served as co-managers.

About Author: Tory Barringer

Tory Barringer began his journalism career in early 2011, working as a writer for the University of Texas at Arlington's student newspaper before joining the DS News team in 2012. In addition to contributing to DSNews.com, he is also the online editor for DS News' sister publication, MReport, which focuses on mortgage banking news.
x

Check Also

HUD’s Carson Discusses End of AFFH Rule

The Secretary had previously dismissed the AFFH rule as "unworkable and ultimately a waste of time for localities to comply with." Here's what he had to say during a recent interview.

GET YOUR DAILY DOSE OF DS NEWS

Featuring daily updates on foreclosure, REO, and the secondary market, DS News has the timely and relevant content you need to stay at the top of your game. Get each day’s most important default servicing news and market information delivered directly to your inbox, complimentary, when you subscribe.