Freddie Mac Prices $599 Million Multifamily K-Deal, K-C07

MCLEAN, Va., Dec. 05, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a K-C Series offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue approximately $599 million in K Certificates (K-C07 Certificates), which are expected to settle on or about December 13, 2019. The K-C07 Certificates are guaranteed by Freddie Mac and are backed by 7-year and 10-year fixed rate loans that feature longer than typical periods of reduced prepayment penalties before maturity.

K-C07 Pricing
Class	Principal/Notional Amount (mm)			Weighted Average Life (Years)		Spread (bps)		Coupon			Yield			Dollar Price
A-SB	$50.500			5.10		S + 65		2.1820		%	2.2140		%	$99.7500
A-7	$500.183			6.78		S + 74		2.5120		%	2.3378		%	$100.9946
A-10	$49.042			9.75		S + 78		2.5910		%	2.4689		%	$100.9938
X1	$599.725			4.86		T - 100		0.8466		%	0.6050		%	$3.9588
XNCP	$599.725			6.88		Non-Offered

Details

• Co-Lead Managers and Joint Bookrunners: Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
• Co-Managers: CastleOak Securities, L.P., Deutsche Bank Securities Inc., Mizuho Securities USA LLC and Nomura Securities International, Inc.

Related Links

• The K-C07 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/kC07oc.pdf
• Freddie Mac Multifamily Investor Presentation
• Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages

The K-C07 Certificates are backed by corresponding classes issued by the FREMF 2019-KC07 Mortgage Trust (K-C07 Trust) and guaranteed by Freddie Mac. The K-C07 Trust will also issue certificates consisting of Class B, Class C and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-C07 Certificates.