Freddie Mac Prices $380 Million Multifamily K-Deal, K-L06

Nachrichtenquelle: globenewswire
05.12.2020, 00:16  |  159   |   |   

MCLEAN, Va., Dec. 04, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. Approximately $380 million in K Certificates (K-L06 Certificates) are backed by a single mortgage note secured by 10 multifamily properties. The mortgage has two fixed rate and two floating rate components, each having 10-year terms.

The transaction collateral is part of Freddie Mac’s K-L series of certificates, which are backed by large loans or pools of related mortgage loans on multifamily properties. The K-L06 Certificates are expected to settle on or about December 10, 2020.

K-L06 Pricing

Class Principal/Notional
Amount (mm)
Weighted
Average
Life (Years)
Spread/Discount
Margin (bps)
Coupon Dollar
Price
A-FL $82.233 8.75 S+37 1 mo LIBOR + 37 $100.0000
A-FX1 $32.900 6.65 S+38 1.0100% $99.9976
A-FX2 $148.000 9.04 S+48 1.3270% $99.9949
A-FX3 $117.194 9.04 S+40 1.2470% $99.9969
X-FX $328.932 7.77 T+210 1.3640% $9.5000
X-FL Non-Offered

Details

  • Co-Lead Managers and Joint Bookrunners: Morgan Stanley & Co. LLC and Barclays Capital Inc.
  • Co-Managers: Bancroft Capital, LLC, BofA Securities, Inc., Credit Suisse Securities (USA) LLC, and Performance Trust Capital Partners, LLC

Related Links

The K-L06 Certificates will not be rated and will include four senior principal and interest classes and two interest-only classes. The K-L06 Certificates are backed by corresponding classes issued by FREMF 2020-KL06 Mortgage Trust (KL06 Trust) and guaranteed by Freddie Mac. The KL06 Trust will also issue certificates consisting of Class C and Class R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-L06 Certificates.

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Freddie Mac Prices $380 Million Multifamily K-Deal, K-L06 MCLEAN, Va., Dec. 04, 2020 (GLOBE NEWSWIRE) - Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. Approximately $380 million in K …

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