Freddie Mac priced an offering of approximately $717 million of structured pass-through certificates, which are multifamily mortgage-backed securities.
Expected to settle on or about Oct. 24, the K-1513 certificates are backed by corresponding classes issued by the FREMF 2019-K1513 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of class B, C and R certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-1513 certificates.
Wells Fargo Securities LLC and Credit Suisse Securities (USA) LLC are the co-lead managers and joint book runners for the offering. J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC, Nomura Securities International Inc. and Stern Brothers & Co. are co-managers.