Freddie Mac Prices $1.1 Billion Multifamily K-Deal, K-740
MCLEAN, Va., Nov. 13, 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 7-year terms. The company expects to issue approximately $1.1 billion in K-740 Certificates, which are expected to settle on or about November
20, 2020.
K-740 Pricing
Class |
Principal/Notional Amount (mm) |
Weighted Average Life (Years) |
Spread (bps) |
Coupon | Yield | Dollar Price | ||
A-1 | $59.300 | 4.11 | S+17 | 0.5940% | 0.5858% | $99.9965 | ||
A-2 | $990.091 | 6.80 | S+31 | 1.4700% | 1.0009% | $102.9980 | ||
A-M | $139.811 | 6.92 | S+36 | 1.0700% | 1.0626% | $99.9938 | ||
X1 | $1,049.391 | 6.40 | T+155 | 0.7612% | 2.1146% | $4.5831 | ||
XAM | $139.811 | 6.67 | T+135 | 1.1117% | 1.9480% | $7.0655 | ||
X3 | $96.423 | 6.68 | T+350 | 2.4817% | 4.0989% | $14.5083 |
Details
- Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC
- Co-Managers: BMO Capital Markets Corp., BofA Securities, Inc., J.P. Morgan Securities LLC and Multi-Bank Securities, Inc.
- Rating Agencies: Moody’s Investors Service, Inc. and Kroll Bond Rating Agency, LLC
Related Links
- The K-740 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k740oc.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-740 Certificates are backed by corresponding classes issued by the FREMF 2020-K740 Mortgage Trust (K-740 Trust) and guaranteed by Freddie Mac. The K-740 Trust will also issue certificates consisting of Class X2-A, Class X2-B, Class D and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-740 Certificates.