Freddie Mac Prices $198 Million Multifamily K-Deal, K-J31

Nachrichtenquelle: globenewswire
20.10.2020, 23:14  |  129   |   |   

MCLEAN, Va., Oct. 20, 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 supplemental multifamily mortgages. The company expects to issue approximately $198 million in K Certificates (K-J31 Certificates), which are expected to settle on or about October 29, 2020.

K-J31 Pricing

Class Principal/Notional Amount (mm) Weighted Average Life (Years) Spread (bps) Coupon Yield Dollar Price
A-1 $55.000 3.98 S+23 0.5690% 0.5605% $99.9980
A-2 $143.672 6.95 S+35 0.9340% 0.9275% $99.9937
X Non-Offered
  • Lead Manager and Sole Bookrunner: J.P. Morgan Securities LLC
  • Co-Managers: Barclays Capital Inc., Multi-Bank Securities, Inc., Performance Trust Capital Partners, LLC and Wells Fargo Securities, LLC

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The K-J31 Certificates are backed by corresponding classes issued by the FREMF 2020-KJ31 Mortgage Trust (KJ31 Trust) and guaranteed by Freddie Mac. The KJ31 Trust will also issue certificates consisting of class B and class R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-J31 Certificates.

Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities. K-Deals are part of the company’s business strategy to transfer a portion of the risk of losses away from taxpayers and to private investors who purchase the unguaranteed subordinate bonds. K Certificates typically feature a wide range of investor options with stable cash flows and structured credit enhancement.

This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac’s Annual Report on Form 10-K for the year ended December 31, 2019, filed with the Securities and Exchange Commission (SEC) on February 13, 2020; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2019, excluding any information "furnished" to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information “furnished” to the SEC on Form 8-K.

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Freddie Mac Prices $198 Million Multifamily K-Deal, K-J31 MCLEAN, Va., Oct. 20, 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 supplemental multifamily …

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