Freddie Mac Prices $881 million Multifamily K-Deal, K-1517

MCLEAN, Va., Sept. 18, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue approximately $881 million in K Certificates (K-1517 Certificates), which are expected to settle on or about September 24, 2020.

K-1517 Pricing

Class	Principal/Notional Amount (mm)		Weighted Average Life (Years)	Spread (bps)	Coupon	Yield	Dollar Price
A-1	$108.000		10.32	S + 48	1.17700%	1.17225%	$99.9951
A-2	$773.647		14.37	S + 62	1.71600%	1.48036%	$102.9934
X1	$881.647		13.61	T + 275	1.33103%	3.63159%	$14.5079
X3	$71.486		14.62	T + 500	3.28100%	5.93587%	$32.3447

Details

• Co-Lead Managers and Joint Bookrunners: PNC Capital Markets LLC and J.P. Morgan Securities LLC
• Co-Managers: Brean Capital, LLC, Credit Suisse Securities (USA) LLC, Drexel Hamilton, LLC and Wells Fargo Securities, LLC

Related Links

• The K-1517 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k1517oc.pdf
• Freddie Mac Multifamily Securitization Overview
• Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages

The K-1517 Certificates are backed by corresponding classes issued by the FREMF 2020-K1517 Mortgage Trust (K-1517 Trust) and guaranteed by Freddie Mac. The K-1517 Trust will also issue certificates consisting of the Class X2-A, Class X2-B, Class C and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-1517 Certificates.