trending Market Intelligence /marketintelligence/en/news-insights/trending/cLXLi-9Qw8CEMzhTKMx_fg2 content esgSubNav
In This List

Freddie Mac prices $632M offering of structured pass-through certificates


Banking Essentials Newsletter: September Edition, Part - 2


S&P Capital IQ Pro | Unrivaled Sector Coverage


S&P Capital IQ Pro | Powering Your Edge


Street Talk Episode 81: Amid strong recovery, Banc of California hearing more M&A chatter

Freddie Mac prices $632M offering of structured pass-through certificates

Freddie Mac priced an offering of approximately $632 million of structured pass-through certificates, which are multifamily mortgage-backed securities.

The K-L04 certificates are backed by two groups of loans. One group consists of 10 floating-rate mortgages backed by 10 properties while the other group consists of 12 fixed-rate mortgages backed by 12 properties.

The certificates, which are set to settle on or about Jan. 29, will not be rated, and will include three senior principal-and-interest classes and three interest-only classes.

The certificates are backed by corresponding classes issued by the FREMF 2019-KL04 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue class B-CR, C-CR, B-AS, C-AS and R certificates which will not be guaranteed by Freddie Mac and will not back any class of K-L04 certificates.

J.P. Morgan Securities LLC and Goldman Sachs and Co. LLC are acting as co-lead managers and joint book runners for the offering, with Academy Securities Inc., Amherst Pierpont Securities LLC, Barclays Capital Inc. and Morgan Stanley & Co. LLC as co-managers.