Freddie Mac prices $1.2B offering of structured pass-through certificates

Federal Home Loan Mortgage Corp. priced an offering of approximately $1.2 billion of structured pass-through certificates, which are backed by underlying collateral consisting of fixed-rate multifamily mortgages with predominantly 10-year terms.

The K-135 certificates are expected to settle on or about Dec. 9.

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

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are co-lead managers and joint bookrunners for the offering. Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Piper Sandler & Co. and Samuel A. Ramirez & Co. Inc. are co-managers.