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Freddie Mac prices $647M offering of structured pass-through certificates

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Freddie Mac prices $647M offering of structured pass-through certificates

Freddie Mac priced an offering of approximately $647 million of structured pass-through certificates, which are multifamily mortgage-backed securities.

The K-1514 certificates are expected to settle on or about Dec. 12.

The K-1514 certificates are backed by corresponding classes issued by the FREMF 2019-K1514 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue class B, class C and class R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-1514 certificates.

J.P. Morgan Securities LLC and Deutsche Bank Securities Inc. are the co-lead managers and joint book runners. BMO Capital Markets Corp., Goldman Sachs & Co. LLC, Stern Brothers & Co. and Wells Fargo Securities LLC are the co-managers for the offering.