Freddie Mac Prices $551 Million Multifamily Securities Offering
MCLEAN, Va., Dec. 01, 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 $551 million in K Certificates (K-I08 Certificates) are expected to settle on or about December 9, 2021. The K-I08 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-I08 Pricing
Class | Principal/Notional Amount (mm) | Weighted Average Life (Years) | Weighted Average Life - Full Extension (Years) | Discount Margin | Coupon | Dollar Price | |
A | $551.492 | 2.39 | 4.39 | 20 | 30-day SOFR avg + 20 | 100.000 | |
XI | Non-Offered | ||||||
XE | Non-Offered |
- Co-Lead Managers and Joint Bookrunners: PNC Capital Markets LLC and J.P. Morgan Securities LLC
- Co-Managers: CastleOak Securities, L.P., Deutsche Bank Securities Inc., NatAlliance Securities, LLC and Nomura Securities International, Inc.
Related Links
- The K-I08 preliminary offering circular supplement: http://capitalmarkets.freddiemac.com/mbs/data/ki08oc.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-I08 Certificates include one senior principal and interest class, one interest-only class and one class that is entitled to exit fees and extension fees. The K-I08 Certificates are backed by corresponding classes issued by the FREMF 2021-KI08 Mortgage Trust (K-I08 Trust) and guaranteed by Freddie Mac. The K-I08 Trust will also issue certificates consisting of the Class C and Class R Certificates, which will be subordinate to the classes backing the K-I08 Certificates and will not be guaranteed by Freddie Mac.