Freddie Mac Prices $1 Billion Multifamily K-Deal, K-103
MCLEAN, Va., Dec. 13, 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 billion in K Certificates (K-103 Certificates), which are expected to settle on or about December 19, 2019.
K-103 Pricing | |||||||||
Class |
Principal/Notional Amount (mm) |
Weighted Average Life (Years) |
Spread (bps) |
Coupon | Yield | Dollar Price | |||
A-1 | $109.473 | 6.98 | S + 56 | 2.31200 | % | 2.22147 | % | $ | 100.4946 |
A-2 | $929.128 | 9.85 | S + 57 | 2.65100 | % | 2.30140 | % | $ | 102.9993 |
A-M | $59.029 | 9.93 | S + 62 | 2.35900 | % | 2.35365 | % | $ | 99.9916 |
X1 | $1,038.601 | 9.31 | T + 145 | 0.75659 | % | 3.29882 | % | $ | 5.4187 |
XAM | $59.029 | 9.93 | Non-Offered | ||||||
X3 | $178.685 | 9.73 | T + 275 | 1.91349 | % | 4.60836 | % | $ | 14.6845 |
Details
- Co-Lead Managers and Joint Bookrunners: BofA Securities, Inc. and Barclays Capital Inc.
- Co-Managers: Brean Capital, LLC, Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Multi-Bank Securities, Inc.
- Rating Agencies: Fitch Ratings, Inc. and Kroll Bond Rating Agency, Inc.
Related Links
- The K-103 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k103oc.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
Lesen Sie auch
The K-103 Certificates are backed by corresponding classes issued by the FREMF 2019-K103 Mortgage Trust (K-103 Trust) and guaranteed by Freddie Mac. The K-103 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-103 Certificates.