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Freddie Mac prices $718M offering of structured pass-through certificates

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Freddie Mac prices $718M offering of structured pass-through certificates

Freddie Mac priced an offering of approximately $718 million of structured pass-through certificates backed by floating-rate multifamily mortgages with 10-year terms.

Expected to settle on or about Sept. 24, the K-F67 certificates will not be rated, and will include one senior principal and interest class, one interest-only class, and one class entitled to static prepayment premiums. The certificates are backed by corresponding classes issued by the FREMF 2019-KF67 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of the class B, C and R certificates, which will be subordinate to the classes backing the K-F67 certificates and will not be guaranteed by Freddie Mac.

BofA Securities Inc. and Goldman Sachs and Co. LLC are acting as co-lead managers and joint book runners for the offering. Barclays Capital Inc., Credit Suisse Securities (USA) LLC, Loop Capital Markets LLC and Morgan Stanley & Co. LLC are co-managers.