Loop Capital is excited to announce it was chosen by Freddie Mac to be a lead manager on the GSE's inaugural SOFR (Secured Overnight Financing Rate) Floating Rate Note transaction, announced and priced on November 6, 2018. The single tranche deal is only the third announced GSE deal in the relatively new SOFR index, and the first to include a diverse-owned firm in a lead underwriting role. Loop was joint book-runner with Barclays and Nomura. The $1bn deal, settling on November 8, 2018 and maturing in 6 months on May 8, 2019 was extremely well received and oversubscribed.
As an active participant in Freddie Mac's global debt distribution group, Loop has partnered with Freddie Mac in many capacities across multiple product lines, including daily interaction through Freddie Mac's discount note window, underwriter of callable debt, and frequent co-manager roles in global Reference Note deals. As a diverse-owned member of Freddie Mac's distribution group, Loop Capital has served in a co-manager role on Freddie Mac's K-Deals and STACR credit risk transfer debt program.
Loop Capital's inclusion as a lead manager on the SOFR Floating Rate deal demonstrates the firm's capabilities as a full service financial provider to institutional entities across the globe and Freddie Mac's ongoing commitment to diversity firms in its debt underwriting programs.