Freddie Mac Prices $1.27 Billion Seniors Housing Multifamily K Certificates
MCLEAN, VA--(Marketwired - Jul 22, 2016) - Freddie Mac (OTCQB: FMCC) Multifamily recently priced an offering of Structured Pass-Through Certificates (K Certificates) backed exclusively by multifamily mortgages on seniors housing properties. The company offered approximately $1.27 billion in K Certificates (K-S05 Certificates) that are expected to settle on or about July 28, 2016. This is Freddie Mac's fifth K Certificate offering backed exclusively by seniors housing.
K-S05 Pricing
Class |
Principal/Notional Amount (mm) |
Weighted Average Life (Years) |
Discounted Margin |
Coupon | Yield |
Dollar Price |
||||||
A | $1,269.621 | 6.20358 | 50 |
1 month LIBOR + 50 |
0.9017% | 100.00 | ||||||
X | $1,410.691 | 6.20358 | Non-Offered |
Details
- Co-Lead Managers and Joint Bookrunners: Wells Fargo Securities, LLC and J. P. Morgan Securities LLC
- Co-Managers: Goldman, Sachs and Co., Loop Capital Markets LLC, Morgan Stanley & Co. LLC, and PNC Capital Markets LLC
- The K-S05 Certificates include one senior principal and interest class and one interest only class, and are not rated.
- The K-S05 Certificates are backed by corresponding classes from the FREMF 2016-KS05 Mortgage Trust and guaranteed by Freddie Mac. The KS05 Mortgage Trust will also issue class B, C and R certificates, which will be subordinate to the classes backing the K-S05 Certificates and will not be guaranteed by Freddie Mac.
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