Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-F21
MCLEAN, VA--(Marketwired - Sep 16, 2016) - Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates) backed by floating-rate multifamily mortgages with 10-year terms. The approximately $1.2 billion in K Certificates (K-F21 Certificates) are expected to settle on or about September 29, 2016.
K-F21 Pricing
Class | Principal/Notional Amount (mm) | Weighted Average Life (Years) | Discounted Margin | Coupon | Yield | Dollar Price | ||
A | $1,192.880 | 9.41 | 48 | 1 mo LIBOR + 48 | 0.9820% | 100.00 | ||
XI | $1,325.423 | 9.41 | Non-Offered | |||||
XP | $1,325.423 | N/A | Non-Offered |
Details
- Co-Lead Managers and Joint Bookrunners: Citigroup Global Markets, Inc. and Wells Fargo Securities, LLC
- Co-Managers: Amherst Pierpont Securities LLC, CastleOak Securities, L.P, Goldman, Sachs and Co. and Merrill Lynch, Pierce, Fenner & Smith, Incorporated
Related Links
- The K-F21 preliminary offering circular supplement: http://www.freddiemac.com/mbs/data/kf21oc.pdf
- Freddie Mac Multifamily Investor Presentation
- Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages
The K-F21 Certificates will not be rated, and will include one senior principal and interest class, one interest-only class, and one class entitled to static prepayment premiums. The K-F21 Certificates are backed by corresponding classes issued by the FREMF 2016-KF21 Mortgage Trust (K-F21 Trust) and guaranteed by Freddie Mac. The K-F21 Trust will also issue certificates consisting of the Class B, C and R Certificates, which will be subordinate to the classes backing the K-F21 Certificates. The K-F21 Trust Class B, C and R Certificates will not be guaranteed by Freddie Mac.