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Freddie Mac prices $1.1B offering of structured pass-through certificates

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Freddie Mac prices $1.1B offering of structured pass-through certificates

Freddie Mac has priced a $1.1 billion offering of structured pass-through certificates, which are backed by floating-rate multifamily mortgages with 10-year terms.

The K-F46 certificates are expected to settle on or about May 31.

The certificates 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-KF46 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.

Goldman Sachs and Co. LLC and PNC Capital Markets LLC are acting as co-lead managers and joint book runners, while Merrill Lynch Pierce Fenner & Smith Inc., Nomura Securities International Inc., The Williams Capital Group LP and Wells Fargo Securities LLC are co-managers of the offering.