Fannie Mae begins any-and-all tender offer for certain CAS notes

By Mary-Katherine Stinson

Lexington, Ky., April 24 – Fannie Mae announced a tender offer for any and all of certain Connecticut Avenue Securities, according to a release.

The offer relates to the following securities of the total $4,235,294,000 original principal balance with the related considerations:

• $578.5 million original principal balance of Connecticut Avenue Securities, series 2014-C04, class 1M-2 notes (Cusip: 30711XAP9) for a tender offer consideration of $1,050;

• $521.5 million original principal balance of Connecticut Avenue Securities, series 2015-C01, class 1M-2 notes (Cusip: 30711XAT1) for a tender offer consideration of $1,035.94;

• $625.1 million original principal balance of Connecticut Avenue Securities, series 2015-C02, class 1M-2 notes (Cusip: 30711XAX2) for a tender offer consideration of $1,042.50;

• $644,149,000 original principal balance of Connecticut Avenue Securities, series 2015-C03, class 1M-2 notes (Cusip: 30711XBB9) for a tender offer consideration of $1,061.25;

• $333,918,000 original principal balance of Connecticut Avenue Securities, series 2016-C01, class 1M-2 notes (Cusip: 30711XBM5) for a tender offer consideration of $1,078.13;

• $207.85 million original principal balance of Connecticut Avenue Securities, series 2017-C01, class 1B-1 notes (Cusip: 30711XEQ3) for a tender offer consideration of $1,127.50;

• $195,918,000 original principal balance of Connecticut Avenue Securities, series 2017-C03, class 1B-1 notes (Cusip: 30711XJW5) for a tender offer consideration of $1,097.50;

• $207,818,000 original principal balance of Connecticut Avenue Securities, series 2017-C05, class 1B-1 notes (Cusip: 30711XNW0) for a tender offer consideration of $1,055;

• $73,668,000 original principal balance of Connecticut Avenue Securities, series 2017-C06, class 2B-1 notes (Cusip: 30711XSW5) for a tender offer consideration of $1,087.81;

• $256,124,000 original principal balance of Connecticut Avenue Securities, series 2018-C01, class 1B-1 notes (Cusip: 30711XYW8) for a tender offer consideration of $1,066.25;

• $151,053,000 original principal balance of Connecticut Avenue Securities, series 2018-C02, class 2B-1 notes (Cusip: 30711XC44) for a tender offer consideration of $1,077.50;

• $192,259,000 original principal balance of Connecticut Avenue Securities, series 2018-C03, class 1B-1 notes (Cusip: 30711XJ62) for a tender offer consideration of $1,072.50;

• $177,428,000 original principal balance of Connecticut Avenue Securities, series 2018-C05, class 1B-1 notes (Cusip: 30711XY32) for a tender offer consideration of $1,091.25; and

• $70,009,000 original principal balance of Connecticut Avenue Securities, series 2018-C06, class 2B-1 notes (Cusip: 30711X5V2) for a tender offer consideration of $1,081.25.

All considerations are based on $1,000 notes.

Interest will also be paid to the settlement date.

The offers will expire at 5 p.m. ET April 28.

Settlement is expected for May 2.

There are guaranteed delivery procedures. Settlement for tenders via guaranteed delivery is expected for May 3.

BofA Securities is the lead dealer manager (888 292-0070, 980 387-3907) and Wells Fargo Securities is the designated dealer manager (866 309-6316, 704 410-4756).

CastleOak Securities, LP and Samuel A. Ramirez & Co., Inc. have been engaged as advisers on the transaction.

Global Bondholder Services Corp. will be the tender agent and information agent (855 654-2015, 212 430-3774, contact@gbsc-usa.com, https://www.gbsc-usa.com/FannieMae/).

Fannie Mae provides funds to mortgage bankers and other lenders to be used in loans to homebuyers.

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