Freddie Mac has priced a $993 million offering of structured pass-through certificates, which are backed by floating-rate multifamily mortgages with seven-year terms.
The K-F45 certificates are expected to settle on or about May 25.
They 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 2018-KF45 Mortgage Trust and guaranteed by Freddie Mac.
The trust will also issue class B, C and R certificates, which will be subordinate to the classes backing the certificates and will not be guaranteed by Freddie Mac.
Merrill Lynch Pierce Fenner & Smith Inc. and Goldman Sachs and Co. LLC are acting as co-lead managers and joint book runners, while Academy Securities Inc., Citigroup Global Markets Inc., Hunt Financial Securities LLC and J.P. Morgan Securities LLC are co-managers of the offering.
