trending Market Intelligence /marketintelligence/en/news-insights/trending/xgLDBl40T-sx-94A80zsWw2 content
Log in to other products

Login to Market Intelligence Platform

 /


Looking for more?

Contact Us
In This List

Freddie Mac prices $1B structured pass-through certificates offering

Banking Essentials Newsletter - November Edition

University Essentials | COVID-19 Economic Outlook in Banking: Rates and Long-Term Expectations: Q&A with the Experts

Estimating Credit Losses Under COVID-19 and the Post-Crisis Recovery

StreetTalk – Episode 70: Banks' Liquidity Conundrum Could Fuel M&A Activity


Freddie Mac prices $1B structured pass-through certificates offering

Freddie Machas priced a new offering of structured pass-through certificates, which are multifamilymortgage-backed securities.

The approximately $1 billion in K certificates are expected tosettle on or about May 11.

The certificates are backed by 19 properties in California andindirectly controlled by The Irvine Co. LLC.

The certificates include two senior principal and interest classesand one interest-only class. They are backed by corresponding classes issued bythe FREMF 2016-KIR1 Mortgage Trust and are guaranteed by Freddie Mac. The trustwill also issue certificates consisting of the class B and R certificates, whichwill not be guaranteed by the company and will be subordinate to the classes backingthe K certificates.

Merrill Lynch Pierce Fenner & Smith Inc. and J.P. MorganSecurities LLC are co-lead managers and joint book runners. Citigroup Global MarketsInc., PNC Capital Markets LLC, The Williams Capital Group LP and Wells Fargo SecuritiesLLC are co-managers.