OREANDA-NEWS. 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 $1.1 billion in K Certificates (K-065 Certificates), which are expected to settle on or about July 24, 2017.

K-065 Pricing

Class   Principal/Notional
Amount (mm)		   Weighted
Average Life (Years)		   Spread
(bps)		   Coupon   Yield   Dollar Price
A-1   $126.500   6.30   S + 46   2.8640%   2.4988%   $101.9945
A-2   $940.562   9.66   S + 63   3.2430%   2.8792%   $102.9968
A-M   $57.193   9.76   S + 71   3.3260%   2.9639%   $102.9991
X1   $1,067.062   9.03   T + 120   0.8160%   3.4883%   $5.5524
XAM   $57.193   9.50   Not Offered
X3   $183.019   9.57   T + 285   2.2572%   5.1728%   $16.6266
                         

Details

  • Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Amherst Pierpont Securities LLC
  • Co-Managers: Drexel Hamilton, LLC, Morgan Stanley & Co. LLC, Nomura Securities International, Inc., and Wells Fargo Securities, LLC
  • Rating Agencies: Fitch Ratings, Inc. and Kroll Bond Rating Agency, Inc.