trending Market Intelligence /marketintelligence/en/news-insights/trending/xgLDBl40T-sx-94A80zsWw2 content esgSubNav
In This List

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

Blog

Banking Essentials Newsletter: July Edition - Part 3

Blog

Banking Essentials Newsletter: July Edition - Part 2

Blog

Anticipate the Unknown Go Beyond Fundamentals to Uncover Early Signs of Private Company Credit Deterioration

Blog

Taking Loss Given Default Estimation to the Next Level: An Aspiration for All Creditors, Not Just Banks


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.