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Freddie Mac prices $1.2B issuance of structured pass-through certificates

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Freddie Mac prices $1.2B issuance of structured pass-through certificates

Freddie Mac has priced an offering of structured pass-through certificates, which are multifamily mortgage-backed securities.

The government-sponsored enterprise expects to issue about $1.2 billion in K-729 certificates. The certificates are expected to settle on or about Dec. 22. The K-729 certificates are backed by corresponding classes issued by the FREMF 2017-K729 Mortgage Trust and guaranteed by Freddie Mac. The trust will also issue certificates consisting of class X2-A, X2-B, B, C, D and R certificates, which the government-sponsored enterprise will not guarantee.

Wells Fargo Securities LLC and PNC Capital Markets LLC are co-lead managers and joint book runners. Goldman Sachs & Co. LLC, Morgan Stanley & Co. LLC, Multi-Bank Securities Inc. and Nomura Securities International Inc. are co-managers.