Freddie Mac has priced an offering of structured pass-through certificates, which are multifamily mortgage-backed securities.
The government-sponsored enterprise expects to issue about $1.3 billion in K-071 certificates. The certificates are expected to settle on or about Dec. 22. The K-071 certificates are backed by corresponding classes issued by the FREMF 2017-K71 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of class X2-A, X2-B, B, C, D and R certificates, which the government-sponsored enterprise will not guarantee.
J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are co-lead managers and joint book runners. Amherst Pierpont Securities LLC, PNC Capital Markets LLC, The Williams Capital Group LP and Wells Fargo Securities LLC are co-managers.