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Article: Freddie Mac clarifies swap transaction with Financial Corporation of America.
- Article from:
- PR Newswire
- Article date:
- August 31, 1984
CopyrightCOPYRIGHT 1984 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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/FIRST AND FINAL ADD -- NYPR 55 -- FREDDIE MAC SWAP TRANSACTION/
During a question-and-answer session on FCA's $2 billion swap with Freddie Mac, Thygerson responded as follows:
1. Q. Is the swap related to FCA's current financial difficulties?
A. On Freddie Mac's part, the swap was a regular transaction under our guarantor program. The repo part of the deal was a first for us, but our finance department had been considering such a tactic for some time. I can't speak about FCA's objectives. We've done three other large deals with FCA and American Savings since 1982. We've been working on this deal for several months.
2. ...