Authorization

Freddie Mac Prices $881 million Multifamily K-Deal, K-1517

MCLEAN, Va., Sept. 18, 2020 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue approximately $881 million in K Certificates (K-1517 Certificates), which are expected to settle on or about September 24, 2020.
K-1517 Pricing


Class



Principal/Notional
Amount (mm)



Weighted Average
Life (Years)



Spread
(bps)



Coupon



Yield



Dollar Price



A-1



$108.000



10.32



S + 48



1.17700%



1.17225%



$99.9951



A-2



$773.647



14.37



S + 62



1.71600%



1.48036%



$102.9934



X1



$881.647



13.61



T + 275



1.33103%



3.63159%



$14.5079



X3



$71.486



14.62



T + 500



3.28100%



5.93587%



$32.3447


Details


Co-Lead Managers and Joint Bookrunners: PNC Capital Markets LLC and J.P. Morgan Securities LLC



Co-Managers: Brean Capital, LLC, Credit Suisse Securities (USA) LLC, Drexel Hamilton, LLC and Wells Fargo Securities, LLC

Related Links

The K-1517 Preliminary Offering Circular Supplement: https://www.freddiemac.com/mbs/data/k1517oc.pdf



Freddie Mac Multifamily Securitization Overview



Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages

The K-1517 Certificates are backed by corresponding classes issued by the FREMF 2020-K1517 Mortgage Trust (K-1517 Trust) and guaranteed by Freddie Mac. The K-1517 Trust will also issue certificates consisting of the Class X2-A, Class X2-B, Class C and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-1517 Certificates.
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