Freddie Mac Prices $1.2 Billion Multifamily K-Deal, K-135

MCLEAN, Va., Dec. 03, 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 $1.2 billion in K Certificates (K-135 Certificates), which are expected to settle on or about December 9, 2021.

K-135 Pricing

Class	Principal/Notional Amount (mm)	Weighted Average Life (Years)	Spread (bps)	Coupon	Yield	Dollar Price
A-1	$117.610	6.77	S+17	1.60600%	1.59536%	$99.9947
A-2	$893.718	9.80	S+27	2.15400%	1.81122%	$102.9941
A-M	$190.000	Sold via WI-K135
X1	$1,011.328	9.21	T+110	0.19188%	2.54158%	$1.6741
XAM	$190.000	9.63	T+105	0.36815%	2.49918%	$3.3675
X3	$63.227	9.71	T+280	2.68215%	4.25060%	$21.4464

*For more information on Freddie Mac's When-Issued K-Deal, WI-K135, click here.

Details

• Co-Lead Managers and Joint Bookrunners: J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC
• Co-Managers: Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Piper Sandler & Co. and Samuel A. Ramirez & Company, Inc.
• Rating Agencies: Fitch Ratings, Inc. and Kroll Bond Rating Agency, Inc.
  

Related Links

• The K-135 Preliminary Offering Circular Supplement: http://capitalmarkets.freddiemac.com/mbs/data/k135oc.pdf
• When-Issued K-Deal Program Overview
• Freddie Mac Multifamily Securitization Overview
• Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages

The K-135 Certificates are backed by corresponding classes issued by the FREMF 2021-K135 Mortgage Trust (K135 Trust) and guaranteed by Freddie Mac. The K135 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-135 Certificates.