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Freddie Mac Prices $724 Million Multifamily K-Deal, K-HG3, Backed by Properties Controlled by Harbor Group International, LLC

MCLEAN, Va., Oct. 15, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), backed by a multifamily mortgage loan with one fixed rate component and two floating rate components. The approximately $724 million in K Certificates (K-HG3 Certificates) are backed by 41 properties indirectly controlled by Harbor Group International, LLC, or its affiliates. K-HG3 is expected to settle on or about October 21, 2021.

The transaction collateral is part of Freddie Mac’s single-asset, single borrower (SASB) execution. The SASB execution transfers first loss credit risk on either one or multiple properties owned or controlled by a single sponsorship group.

K-HG3 Pricing

Class Principal/Notional Amount (mm) Weighted Average Life (Years) Spread (bps) Coupon Yield Dollar Price
AFX-1 $33.000 5.48 S+5 1.26500% 1.25288% 99.9970
AFX-2 $401.581 6.93 S+13 1.80600% 1.48858% 101.9984
A-FL $289.720 6.82 30-day SOFR avg + 19 30-day SOFR avg + 19 0.24012% 100.0000
X-FX Non-Offered
X-FL Non-Offered

Details

  • Co-Lead Managers and Bookrunners: J.P. Morgan Securities LLC and Amherst Pierpont Securities LLC
  • Co-Managers: Barclays Capital Inc., Cantor Fitzgerald & Co., Robert W. Baird & Co. Incorporated and Samuel A. Ramirez & Company, Inc.

Related Links

The K-HG3 Certificates will not be rated, and will include three senior principal and interest classes and two interest-only classes. The K-HG3 Certificates are backed by corresponding classes issued by the FREMF 2020-KHG3 Mortgage Trust (KHG3 Trust) and guaranteed by Freddie Mac. The KHG3 Trust will also issue certificates consisting of the Class B, C and R Certificates, which will be subordinate to the classes backing the K-HG3 Certificates. The KHG3 Trust Class B, C and R Certificates will not be guaranteed by Freddie Mac.

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15.10.2021, 22:00  |  96   |   |   

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Freddie Mac Prices $724 Million Multifamily K-Deal, K-HG3, Backed by Properties Controlled by Harbor Group International, LLC MCLEAN, Va., Oct. 15, 2021 (GLOBE NEWSWIRE) - Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), backed by a multifamily mortgage loan with one fixed rate component and two floating …

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