Freddie Mac Prices $1 Billion Multifamily K-Deal, K-106

MCLEAN, Va., March 19, 2020 (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-106 Certificates), which are expected to settle on or about March 26, 2020.

K-106 Pricing

Class	Principal/Notional Amount (mm)		Weighted Average Life (Years)	Spread (bps)	Coupon		Yield		Dollar Price
A-1	$135.929		7.41	S + 92	1.78300	%	1.70011	%	$100.4974
A-2	$852.000		9.79	S + 90	2.06900	%	1.72748	%	$102.9939
A-M	$54.548		9.90	S + 95	1.77900	%	1.77289	%	$99.9959

Details

• Co-Lead Managers and Joint Bookrunners: Barclays Capital Inc. and J.P. Morgan Securities LLC
• Co-Managers: Credit Suisse Securities (USA) LLC, Loop Capital Markets LLC, Mizuho Securities USA LLC and Morgan Stanley & Co. LLC
• Rating Agencies: Fitch Ratings, Inc. and DBRS, Inc.

Related Links

• The K-106 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k106oc.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-106 Certificates are backed by corresponding classes issued by the FREMF 2020-K106 Mortgage Trust (K-106 Trust) and guaranteed by Freddie Mac. The K-106 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-106 Certificates.