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Freddie Mac prices $292M in multifamily mortgage-backed certificates

Freddie Mac has priced a $292 million offering of structured pass-through certificates backed by small-balance multifamily loans underwritten by Freddie Mac and issued by a third-party trust.

The certificates are expected to settle on or about Dec. 20.

The SB43 certificates include five senior principal-and-interest classes and one interest-only class. The certificates are backed by corresponding classes issued by the FRESB 2017-SB43 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue class B and R certificates, which will not be guaranteed by Freddie Mac and will be sold to private investors.

J.P. Morgan Securities LLC is sole lead manager and book runner. Co-managers include Amherst Pierpont Securities LLC, Samuel A. Ramirez & Co. Inc., Stifel Nicolaus & Co. Inc. and Wells Fargo Securities LLC.