Freddie Mac Prices $1.4 Billion Multifamily K-Deal, K-128

MCLEAN, Va., April 22, 2021 (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 $1.4 billion in K Certificates (K-128 Certificates), which are expected to settle on or about April 29, 2021.

K-128 Pricing

Class	Principal/Notional Amount (mm)	Weighted Average Life (Years)	Spread (bps)	Coupon	Yield	Dollar Price
A-1	$96.000	6.38	S+8	1.22900%	1.21903%	$99.9979
A-2	$1,172.840	9.72	S+14	2.02000%	1.67667%	$102.9965
A-M	$173.467	9.91	S+19	1.74900%	1.74295%	$99.9957
X1	$1,268.840	9.22	T+75	0.52939%	2.21344%	$4.5449
XAM	$173.467	9.66	T+70	0.74055%	2.21005%	$6.7303
X3	$116.944	9.66	T+250	2.78955%	4.01003%	$22.4719

Details

• Co-Lead Managers and Joint Bookrunners: Morgan Stanley & Co. LLC and Cantor Fitzgerald & Co.
• Co-Managers: Brean Capital, LLC, Citigroup Global Markets Inc., Samuel A. Ramirez & Company, Inc. and Wells Fargo Securities, LLC
• Rating Agencies: Fitch Ratings, Inc. and DBRS, Inc.
  

Related Links

• The K-128 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k128oc.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-128 Certificates are backed by corresponding classes issued by the FREMF 2021-K128 Mortgage Trust (K128 Trust) and guaranteed by Freddie Mac. The K128 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-128 Certificates.