Freddie Mac Prices $1.0 Billion Multifamily K-Deal, K-F47
MCLEAN, Va., June 21, 2018 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB:FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates) backed by floating-rate multifamily
mortgages with seven-year terms. The approximately $1.0 billion in K Certificates (K-F47 Certificates) are expected to settle on or about June 28, 2018.
K-F47 Pricing
Class |
Principal/Notional Amount (mm) |
Weighted Average Life (Years) |
Discount Margin |
Coupon | Dollar Price | |
A | $1,004.970 | 6.63 | 23 | 1 mo LIBOR + 23 | 100.00 | |
XI | $1,116.634 | 6.63 | Non-Offered | |||
XP | $1,116.634 | N/A | Non-Offered | |||
Details
- Co-Lead Managers and Joint Bookrunners: J.P. Morgan Securities LLC and Citigroup Global Markets Inc.
- Co-Managers: Barclays Capital Inc., CastleOak Securities, L.P., Merrill Lynch, Pierce, Fenner & Smith Incorporated and PNC Capital Markets LLC
Related Links
- The K-F47 preliminary offering circular supplement: http://www.freddiemac.com/mbs/data/kf47oc.pdf
- Freddie Mac Multifamily Securitization Overview
- Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages
The K-F47 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-F47 Certificates are backed by corresponding classes issued by the FREMF 2018-KF47 Mortgage Trust (KF47 Trust) and guaranteed by Freddie Mac. The KF47 Trust will also issue certificates consisting of the Class B, C and R Certificates, which will be subordinate to the classes backing the K-F47 Certificates and will not be guaranteed by Freddie Mac.