Freddie Mac has priced an offering of $1.1 billion in structured pass-through K-L02 certificates backed by three groups of multifamily mortgages.
The certificates are expected to settle on or about March 16.
The K-L02 certificates will include four senior principal and interest classes and four interest-only classes. The certificates are backed by corresponding classes issued by the FREMF 2018-KL02 mortgage trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of the class B-PZ, class C-PZ, class B-SWC, class B-B, class C-B and class R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-L02 certificates.
Wells Fargo Securities LLC and Merrill Lynch Pierce Fenner & Smith are acting as co-lead managers and joint book runners. Credit Suisse Securities (USA) LLC, Jefferies LLC, Nomura Securities International Inc. and Stern Brothers & Co. are the co-managers.
