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.

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 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.