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Fannie Mae Buying Back $250 Mil in Mid-Term Notes from Investors

WASHINGTON, DC-Fannie Mae is redeeming $250 million in recallable mid-term notes with a maturity date of July 2, 2012. The redemption date is Jan. 2, 2001. The company says it's an issue of cost-effectiveness.

By Diane Cook | Updated on December 22, 2000

WASHINGTON DC-Fannie Mae is is calling in $250 million dollars worth of mid-term notes, CUSIP 31364CW53, with a maturity date of July 2, 2012. “These are recallable notes,” says Janis Smith, spokesperson for Fannie Mae. “Investors who bought them did so with the understanding that we could recall them. We’re buying them back because it’s more cost effective to do so.”

The notes can be redeemed on Jan. 2, 2001 at a redemption price equal to 100% of the principal plus accrued interest to the redemption date, Smith says.

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