Freddie Announces Tender Offers

Freddie Mac has announced that it is conducting cash tender offers for the repurchase of up to $9.97 billion in principal amount of a targeted group of European-style callable debt securities this week.Freddie Mac is offering to repurchase any and all outstanding amounts of the selected securities from investors through Goldman, Sachs & Co., the lead manager and global coordinator for the offers, or through Credit Suisse First Boston, J.P. Morgan Chase, Morgan Stanley, and UBS Investment Bank, the co-dealer managers for the offers. Each eligible security will be repurchased at a fixed spread to an outstanding Freddie Mac Reference Notes security, the government-sponsored enterprise said. The tender offers began March 14 and will expire at 5 p.m. EST on March 18, unless extended. Holders of the targeted securities wishing to tender may do so at any time between 9 a.m. and 5 p.m. EST during this period.

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