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.
