Freddie Reference Notes Surpass $100B - Source: National Mortgage News, 07/17/2000, Vol. 24 Issue 43, p27, 1p

Freddie Reference Notes Surpass $100B

MCLEAN, VA--Freddie Mac has priced $4 billion of 7.00%, five year Reference Notes due July 15, 2005, bringing the total volume of the corporation's Reference Notes outstanding to over $100 billion.

The $4 billion issue, which was scheduled to settle on July 10, was priced at 99.86 to yield 7.033%, or 84.5 basis points over the 6.75% on-the-ran five year Treasury security due May 15, 2005.

Joint lead managers on the transaction were Goldman Sachs & Co., Salomon Smith Barney and UBS Warburg. Co-managers on the transaction are ABN Amro, Daiwa Securities America, Deutsche Banc Alex Brown, HSBC Securities, J.P. Morgan Securities, Lehman Brothers, Merrill Lynch & Co., Morgan Stanley Dean Witter and Prudential Securities.

Jerome Lienhard, senior vice president for investment funding at Freddie Mac, said that this issuance was the first new agency five-year deal to be priced at an on-the-run premium over similar outstanding issues.

"Moreover, the transaction was substantially oversubscribed with over one-third of the placement international and a very high cash component to the book," Mr. Lienhard said.

Freddie Mac now has $100.5 billion of Reference Notes outstanding, including the most recent sale of $4 billion. Recent sales of Reference Notes have ranged from $3 billion to $9 billion in size.

________________________________________

Copyright of National Mortgage News is the property of SourceMedia. The copyright in an individual article may be maintained by the author in certain cases. Content may not be copied or emailed to multiple sites or posted to a listserv without the copyright holder's express written permission. However, users may print, download, or email articles for individual use.

Source: National Mortgage News, 07/17/2000, Vol. 24 Issue 43, p27, 1p

Wealth Generating Books

From Credit Despair to
Credit Millionaire
Don't let credit hold you back any longer. Take what you need to get what you want. A book on how to build real wealth.
Carl Hampton, Nationally Syndicated Financial Columnist

The 16% Solution
How to Get High interest Rates in a Low Interest World with Tax Lien Certificates.
Joel S. Moskowitz, J.D.

Make Money in Real Estate
Tax Liens
How to Guarantee Your Returns
Up to 50%
Chantal Howell Carey & Bill Carey

Rich Dad Poor Dad
What the Rich Teach Their kids about Money - That the Poor and Middle Class Do Not
Robert T. Kiyosaki, with Sharon L. Lechter, CPA

Exchanging Up
How to Build a Real Estate Empire Without Paying Taxes… Using 1031 Exchanges
Gary Gorman, Exchange Expert