Freddie Makes Tender Offer

Freddie Mac has announced that it will conduct cash tender offers this week for the repurchase of up to $8.6 billion in principal amount of a targeted group of debt securities.The securities selected were originally issued as European-style callable debt securities and have since converted to bullet securities. Freddie Mac said it will offer to repurchase all outstanding amounts of the targeted securities only through Goldman, Sachs & Co., the designated dealer manager. Each eligible security will be repurchased at a fixed spread to an outstanding Freddie Mac Reference Notes security. John Radwanski, vice president and assistant treasurer of Freddie Mac, said the transaction "not only demonstrates our ongoing commitment to the performance and liquidity of all of our debt products, but also plays an integral role in our asset-liability management strategy." The tender offers commenced on Nov. 15 and will expire at 5 p.m. EST Nov. 19, unless extended. Investors who do not have a securities account at Goldman Sachs may contact the company at 1-800-828-3182 or 1-212-357-3047 throughout the tender period.