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Freddie Mac Prices $773 Billion Multifamily K-Deal, K-742

Nachrichtenquelle: globenewswire
05.05.2021, 23:36  |  129   |   |   

MCLEAN, Va., May 05, 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 7-year terms. The company expects to issue approximately $773 billion in K Certificates (K-742 Certificates), which are expected to settle on or about May 13, 2021.


K-
742 Pricing

Class Principal/Notional
Amount (mm)
Weighted
Average Life
(Years)
Spread
(bps)
Coupon Yield Dollar
Price
A-1 $185.300 4.63 S+2 0.8610% 0.8504% $99.9974
A-2 $497.975 6.74 S+6 1.7600% 1.2807% $102.9971
A-M $89.849 6.90 S+11 1.3690% 1.3591% $99.9995
X-1 $683.275 5.93 T+45 0.8691% 1.4668% $4.2993
X-AM Non-Offered
X-3 $62.686 6.70 T+210 2.6853% 3.2933% $15.7458


Details

  • Co-Lead Managers and Joint Bookrunners: J.P. Morgan Securities LLC and Barclays Capital Inc.
  • Co-Managers: Brownstone Investment Group, LLC, Cantor Fitzgerald & Co., Morgan Stanley & Co. LLC and Stern Brothers & Co.
  • Rating Agencies: Fitch Ratings, Inc. and DBRS, Inc.

Related Links

The K-742 Certificates are backed by corresponding classes issued by the FREMF 2021-K742 Mortgage Trust (K-742 Trust) and guaranteed by Freddie Mac. The K-742 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-742 Certificates.

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Freddie Mac Prices $773 Billion Multifamily K-Deal, K-742 MCLEAN, Va., May 05, 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 …

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