Freddie Mac priced an offering of approximately $1.3 billion in K-F35 certificates backed by floating-rate seven-year multifamily mortgages.
The structured pass-through certificates are expected to settle on or about Oct. 12. They are backed by classes issued by the FREMF 2017-KF35 Mortgage Trust and guaranteed by Freddie Mac, including $1.32 billion of class A certificates.
The KF35 Trust will also issue class B, C and R certificates, which will be subordinate to those backing the K-F35 certificates and will not be guaranteed by Freddie Mac.
The offering's co-lead managers and book runners are Barclays Capital Inc. and Credit Suisse Securities (USA) LLC. The co-managers are Merrill Lynch Pierce Fenner & Smith Inc., Jefferies LLC, J.P. Morgan Securities LLC and The Williams Capital Group LP.