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Freddie Mac prices $586M issuance of structured pass-through certificates

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Freddie Mac prices $586M issuance of structured pass-through certificates

Freddie Mac has priced an offering of structured pass-through certificates, which are multifamily mortgage-backed securities.

The government-sponsored enterprise expects to issue about $586 million in K-F41 certificates. The certificates are expected to settle on or about Dec. 28.

The K-F41 certificates will not be rated and will include one senior principal and interest class, one interest-only class, and one class entitled to static prepayment premiums. The K-F41 certificates are backed by corresponding classes issued by the FREMF 2017-KF41 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of class B, C and R certificates, which will not be guaranteed by Freddie Mac.

Credit Suisse Securities (USA) LLC is the lead manager and sole book runner. Drexel Hamilton LLC, Merrill Lynch Pierce Fenner & Smith Inc., J.P. Morgan Securities LLC and PNC Capital Markets LLC are co-managers.