Freddie Mac Prices $550 Million Multifamily Securities Offering
MCLEAN, Va., Oct. 21, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured
Pass-Through Certificates (K Certificates), which includes a class of floating rate bonds indexed to
the Secured Overnight Financing Rate (SOFR). The approximately $550 million in K Certificates (K-I07 Certificates) are expected to settle on or about November 2, 2021. The K-I07 Certificates are
backed by floating-rate multifamily mortgages with 3-year terms (subject to two 1-year extensions), which are SOFR-based. Each of the mortgages was originated pursuant to Freddie Mac’s Value-Add
program.
K-I07 Pricing
Class |
Principal/Notional Amount (mm) |
Weighted Average Life (Years) |
Weighted Average Life - Full Extension (Years) |
Discount Margin |
Coupon | Dollar Price | |
A | $550.593 | 2.90 | 4.90 | 17 | 30-day SOFR avg + 17 | 100.000 | |
XI | Non-Offered | ||||||
XE | Non-Offered |
- Co-Lead Managers and Joint Bookrunners: Amherst Pierpont Securities LLC and J.P. Morgan Securities LLC
- Co-Managers: CastleOak Securities, L.P., NatAlliance Securities, LLC, PNC Capital Markets LLC and Wells Fargo Securities, LLC
Related Links
- The K-I07 preliminary offering circular supplement: http://capitalmarkets.freddiemac.com/mbs/data/ki07oc.pdf
- Freddie Mac Multifamily Securitization Overview
- Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages
- Multifamily Issuance Calendars
Lesen Sie auch
The K-I07 Certificates include one senior principal and interest class and two interest-only classes that are also entitled to static prepayment premiums and, in the case of the Class XE Certificates, extension fees. The K-I07 Certificates are backed by corresponding classes issued by the FREMF 2021-KI07 Mortgage Trust (K-I07 Trust) and guaranteed by Freddie Mac. The K-I07 Trust will also issue certificates consisting of the Class C and Class R Certificates, which will be subordinate to the classes backing the K-I07 Certificates and will not be guaranteed by Freddie Mac.