Freddie Mac Prices $1.1 Billion Multifamily K-Deal, K-102

MCLEAN, Va., Dec. 06, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are backed by underlying collateral consisting of fixed-rate multifamily mortgages with predominantly 10-year terms. The company expects to issue approximately $1.1 billion in K Certificates (K-102 Certificates), which are expected to settle on or about December 12, 2019.

K-102 Pricing

Class	Principal/Notional Amount (mm)		Weighted Average Life (Years)	Spread (bps)	Coupon	Yield	Dollar Price
A-1	$99.754		6.83	S + 56	2.18400%	2.09116%	$100.4991
A-2	$1,011.978		9.77	S + 57	2.53700%	2.18715%	$102.9937
A-M	$64.993		9.87	S + 62	2.24600%	2.24002%	$99.9952
X1	$1,111.732		9.28	T + 140	0.94661%	3.21810%	$6.8954
XAM	$64.993		9.87	Non-Offered
X3	$191.561		9.74	T + 295	1.95639%	4.77738%	$14.9825

Details

• Co-Lead Managers and Joint Bookrunners: Wells Fargo Securities, LLC and Goldman, Sachs and Co. LLC
• Co-Managers: Bancroft Capital, LLC, BofA Securities, Inc., Citigroup Global Markets Inc. and J.P. Morgan Securities LLC
• Rating Agencies: Fitch Ratings, Inc. and Kroll Bond Rating Agency, Inc..

Related Links

• The K-102 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k102oc.pdf           
• Freddie Mac Multifamily Securitization Overview
• Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages
• More information about Class A-M and Class XAM

The K-102 Certificates are backed by corresponding classes issued by the FREMF 2019-K102 Mortgage Trust (K-102 Trust) and guaranteed by Freddie Mac. The K-102 Trust will also issue certificates consisting of the Class X2-A, Class X2-B, Class B, Class C, Class D and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-102 Certificates.