Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-120

Nachrichtenquelle: globenewswire
20.11.2020, 21:01  |  122   |   |   

MCLEAN, Va., Nov. 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 fixed-rate multifamily mortgages with predominantly 10-year terms. The company expects to issue approximately $1.2 billion in K Certificates (K-120 Certificates), which are expected to settle on or about November 24, 2020.

K-120 Pricing

Class Principal/Notional Amount (mm) Weighted Average Life (Years) Spread (bps) Coupon Yield Dollar Price
A-1 $179.146 7.04 S+25 0.89200% 0.88588% $99.9933
A-2 $914.511 9.89 S+32 1.50000% 1.17129% $102.9943
A-M $155.272 9.92 S+37 1.22900% 1.22364% $99.9971
X1 $1,093.657 9.17 T+200 1.03961% 2.79159% $8.4598
XAM $155.272 9.67 T+170 1.21102% 2.52987% $10.6329
X3 $101.265 9.67 T+415 2.74002% 4.97989% $21.1844

Details

  • Co-Lead Managers and Joint Bookrunners: Wells Fargo Securities, LLC and Goldman, Sachs and Co. LLC
  • Co-Managers: Credit Suisse Securities (USA) LLC, Loop Capital Markets LLC, Performance Trust Capital Partners, LLC and PNC Capital Markets LLC
  • Rating Agencies: Fitch Ratings, Inc. and Kroll Bond Rating Agency, Inc.

Related Links

The K-120 Certificates are backed by corresponding classes issued by the FREMF 2020-K120 Mortgage Trust (K120 Trust) and guaranteed by Freddie Mac. The K120 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-120 Certificates.

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Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-120 MCLEAN, Va., Nov. 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 fixed-rate multifamily …

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