Freddie Macpriced an offering of about $1 billion of structured pass-through certificates,backed by floating-rate multifamily mortgages with mainly 10-year terms.
The certificates are expected to settle on or about May 18.
Freddie Mac had priced another offering of $1 billion of structured pass-through certificatesearlier on May 5.
The certificates are backed by corresponding classes issued bythe FREMF 2016-KF16 Mortgage Trust and guaranteed by Freddie Mac. The trust willalso issue certificates consisting of the class B, C and R certificates, which willbe subordinate to the classes backing the structured pass-through certificates andwill not be guaranteed by the company.
Wells Fargo Securities LLC and Merrill Lynch Pierce Fenner &Smith Inc. are the co-lead managers and joint book runners. Barclays Capital Inc.,Jefferies LLC, Morgan Stanley & Co. LLC and Samuel A. Ramirez & Co. Inc.are co-managers for the transaction.