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Freddie Mac prices $993M offering of structured pass-through certificates

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Freddie Mac prices $993M offering of structured pass-through certificates

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.