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Freddie Mac prices $634M offering of structured pass-through certificates


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Freddie Mac prices $634M offering of structured pass-through certificates

Freddie Mac priced an offering of approximately $634 million of structured pass-through certificates, which are backed by floating-rate multifamily mortgages with 10-year terms.

The K-F56 certificates are expected to settle on or about Dec. 28.

The certificates are backed by corresponding classes issued by the FREMF 2018-KF56 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue class B, C and R certificates, which will not be guaranteed by Freddie Mac and be subordinate to the classes backing the K-F56 certificates.

Wells Fargo Securities LLC and Cantor Fitzgerald & Co. are acting as co-lead managers and joint book runners for the offering, while Credit Suisse Securities (USA) LLC, Drexel Hamilton LLC, J.P. Morgan Securities LLC and Merrill Lynch Pierce Fenner & Smith Inc. are acting as co-managers.