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Freddie Mac prices $574M offering of structured pass-through certificates

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Freddie Mac prices $574M offering of structured pass-through certificates

Freddie Mac has priced a $574 million offering of structured pass-through certificates, which are backed by one group of floating-rate mortgages and one group of fixed-rate mortgages on multifamily properties.

The K-W05 certificates are expected to settle on or about June 15.

The certificates are backed by corresponding classes issued by the FREMF 2018-KW05 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of the class B-FL, C-FL, B-FX, C-FX and R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-W05 certificates.

Wells Fargo Securities LLC and Merrill Lynch Pierce Fenner & Smith Inc. are serving as co-lead managers and joint book runners for the offering. Co-managers include Amherst Pierpont Securities LLC, Barclays Capital Inc., Drexel Hamilton LLC and Morgan Stanley & Co. LLC.