Freddie Mac Prices $1 Billion Multifamily K-Deal, K-129

MCLEAN, Va., June 10, 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 billion in K Certificates (K-129 Certificates), which are expected to settle on or about June 17, 2021.

K-129 Pricing

Class	Principal/Notional Amount (mm)		Weighted Average Life (Years)	Spread (bps)	Coupon	Yield	Dollar Price
A-1	$151.250		7.49	S+9	1.34200%	1.33402%	$99.9936
A-2	$782.874		9.74	S+10	1.91400%	1.57343%	$102.9919
A-M	$122.836		9.94	S+15	1.64700%	1.64066%	$99.9995
X1	$934.124		9.09	T+50	1.05019%	1.87375%	$8.7840
XAM	$122.836		9.69	T+45	1.22457%	1.88738%	$11.0292
X3	$85.700		9.73	T+225	3.17157%	3.69222%	$26.0921

Details

• Co-Lead Managers and Joint Bookrunners: Morgan Stanley & Co. LLC and Credit Suisse Securities (USA) LLC
• Co-Managers: Mizuho Securities USA LLC, Multi-Bank Securities, Inc., NatAlliance Securities, LLC and Wells Fargo Securities, LLC
• Rating Agencies: Fitch Ratings, Inc. and DBRS, Inc.
  

Related Links

• The K-129 Preliminary Offering Circular Supplement: http://www.freddiemac.com/mbs/data/k129oc.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-129 Certificates are backed by corresponding classes issued by the FREMF 2021-K129 Mortgage Trust (K129 Trust) and guaranteed by Freddie Mac. The K129 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-129 Certificates.