Freddie Mac Prices $328 Million Multifamily K-Deal, K-J32

Nachrichtenquelle: globenewswire
20.11.2020, 22:00  |  117   |   |   

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 supplemental multifamily mortgages. The company expects to issue approximately $328 million in K Certificates (K-J32 Certificates), which are expected to settle on or about November 30, 2020.

K-J32 Pricing

Class Principal/Notional Amount (mm) Weighted Average Life (Years) Spread/Discount Margin (bps) Coupon Dollar Price
A-1 $65.000 3.52 S+17 0.5160% $99.9996
A-2 $166.415 7.06 S+44 1.3940% $101.9999
A-FL $96.826 4.93 25 1 mo LIBOR + 25 $100.0000
X-FX Non-Offered
X-FL Non-Offered
  • Lead Manager and Sole Bookrunner: J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
  • Co-Managers: Academy Securities Inc., Barclays Capital Inc., NatAlliance Securities, LLC and PNC Capital Markets LLC

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The K-J32 Certificates are backed by corresponding classes issued by the FREMF 2020-KJ32 Mortgage Trust (KJ32 Trust) and guaranteed by Freddie Mac. The KJ32 Trust will also issue certificates consisting of class B-FX, F-FL and class R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-J32 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.

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Freddie Mac Prices $328 Million Multifamily K-Deal, K-J32 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 supplemental multifamily …

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