trending Market Intelligence /marketintelligence/en/news-insights/trending/foelkkdlhpnyzeuj9sq3nw2 content esgSubNav
Log in to other products

 /


Looking for more?

Contact Us
In This List

Freddie Mac prices $275M structured agency credit risk offering

BLOG

Banking Essentials Newsletter: June Edition

Case Study

กรณีศึกษา A Bank Takes its Project Finance Assessments to a New Level

Blog

Financial Institutions Factor Transition Risk into Climate-Related Stress Testing

Blog

Banking Essentials Newsletter: May Edition, Part-2


Freddie Mac prices $275M structured agency credit risk offering

Freddie Mac priced its fifth and largest structured agency credit risk offering.

The $275 million of securities are backed by participation interests in 30-year fixed-rate non-Home Affordable Refinance Program mortgage loans with an aggregate principal balance of about $6.9 billion, and will include retention of the credit risk on loans subsequently refinanced under Freddie Mac's enhanced relief refinance program.

The M-1 class was priced at the Euro Dollar Spot Forward plus 160 basis points, the M-2 class at swaps plus 350 basis points and the B class at $47.50 per share.

Freddie Mac will retain a 5% interest in each of the three classes, maintaining alignment of interests with credit investors and complying with European Union risk retention rules.

Bank of America Merrill Lynch and Barclays Capital Inc. are co-lead managers and joint book runners.