Fannie Mae ($FNMA) has announced the commencement of fixed-price cash tender offers for the purchase of all Connecticut Avenue Securities® (CAS) Notes. This announcement was made on February 23, 2026, and includes details outlined in the Offer to Purchase and related Notice of Guaranteed Delivery.
The tender offers are set to expire at 5:00 p.m. New York City time on February 27, 2026, unless extended or terminated early. Holders of the Notes can withdraw their tendered notes at any time prior to the expiration by following the procedures detailed in the Offer Documents.
Fannie Mae has appointed BofA Securities as the lead dealer manager and Wells Fargo Securities as the dealer manager for these offers. Global Bondholder Services Corporation will act as the tender agent and provide information regarding the Offers.
The material pricing terms of the offers include various classes of Connecticut Avenue Securities, including:
- Series 2017-C02, Class 2B-1 Notes
- Series 2017-C02, Class 2M-2 Notes
- Series 2017-C03, Class 1M-2 Notes
- Series 2018-C03, Class 1B-1 Notes
- Series 2023-R02, Class 1M-1 Notes
Holders must validly tender their Notes by the Expiration Time to receive the Tender Offer Consideration, which will include monthly Certificate Percentages available on February 25, 2026. Additionally, those whose Notes are purchased will receive accrued interest from the last payment date up to but not including the Settlement Date, expected to be March 3, 2026.
For assistance with tendering Notes, holders can reach out to Global Bondholder Services Corporation at (855) 654-2015 (toll-free) or visit their website at Global Bondholder Services. Any inquiries regarding the Offers can be directed to BofA Securities at (888) 292-0070 or Wells Fargo Securities at (866) 309-6316.
This announcement includes forward-looking statements related to the timing of the purchase of the Notes. Actual results may differ due to various factors. Investors are encouraged to review the Offer Documents for complete information.
For further details on Fannie Mae's offerings and related securities, visit Inside Ticker.