Fannie Mae announced the results of its fixed-price cash tender offers for any and all of certain Connecticut Avenue Securities Notes, with a total of $1,026 million in original principal amount validly tendered and not validly withdrawn by the Expiration Time of 5:00 p.m. New York City time on October 2, 2026. The offers covered eight classes of CAS Notes across seven trusts, with tendered percentages ranging from 2.98 percent of the Series 2023-R02 Class 1M-1 Notes to 98.80 percent of the Series 2023-R01 Class 1M-2 Notes. The largest single class tendered was the Series 2023-R04 Class 1M-1 Notes, with $281,319,946 of a $377,100,000 original principal balance, or 74.60 percent. The tendered amount includes $18,775,847 of Notes submitted using the Notice of Guaranteed Delivery. Settlement for accepted Notes is expected on Tuesday, October 6, 2026, while Notes tendered via the Notice of Guaranteed Delivery are expected to be purchased on Wednesday, October 7, 2026. BofA Securities acted as designated lead dealer manager and Citigroup Global Markets acted as designated dealer manager, with Global Bondholder Services Corporation as tender agent and information agent.
Fannie MaeFannie Mae's fixed-price cash tender offer for $1,026 million of CAS Notes is a capital/liability-management event with no clear directional impact.
Bank of America Corp
CTBC Financial Holding Co Ltd
Citigroup Inc.