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Freddie Mac Prices $838 million Multifamily K-Deal, K-1520

Nachrichtenquelle: globenewswire
08.04.2021, 21:14  |  104   |   |   

MCLEAN, Va., April 08, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue approximately $838 million in K Certificates (K-1520 Certificates), which are expected to settle on or about April 15, 2021.

K-1520 Pricing

Class Principal/Notional Amount (mm) Weighted Average Life (Years) Spread (bps) Coupon Yield Dollar Price
A-1 $229.514 11.07 S + 23 2.00700% 2.00174% $99.9998
A-2 $609.064 14.76 S + 33 2.43800% 2.27693% $101.9916
X1 $838.578 13.53 T + 130 0.47180% 3.15134% $5.3376
X3 $67.994 14.65 T + 310 3.09184% 5.01692% $32.3440

Details

  • Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc.
  • Co-Managers: Baird, BofA Securities, Inc., Drexel Hamilton, LLC and Wells Fargo Securities, LLC

Related Links

The K-1520 Certificates are backed by corresponding classes issued by the FREMF 2021-K1520 Mortgage Trust (K-1520 Trust) and guaranteed by Freddie Mac. The K-1520 Trust will also issue certificates consisting of the Class X2-A, Class X2-B, Class C and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-1520 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 $838 million Multifamily K-Deal, K-1520 MCLEAN, Va., April 08, 2021 (GLOBE NEWSWIRE) - Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue …

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