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 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.
|Class||Principal/Notional Amount (mm)||Weighted Average Life (Years)||Spread (bps)||Coupon||Yield||Dollar Price|
- 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.
- The K-120 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k120oc.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-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.