Freddie Mac costs $ 1 billion multi-family K-Deal, K-F97 Other OTC: FMCC

MCLEAN, Va., January 21, 2021 (GLOBE NEWSWIRE) – Freddie Mac (OTCQB: FMCC) has priced a new offering of structured pass-through certificates (K certificates), which includes a class of floating rate bonds indexed to Rate Guaranteed of night financing (SOFR). Approximately $ 1 billion K certificates (K-F97 certificates) are expected to settle around January 28, 2021. K-F97 certificates are secured by 10-year variable rate multi-family mortgages.

K-F97 includes one class (Class AS) of SOFR-indexed senior bonds backed only by SOFR-based mortgages and another class (Class AL) of LIBOR-indexed senior bonds backed only by currently LIBOR-based mortgages.

K-F97 prices

Class Principal / notional amount (mm) Weighted average life (years) Discount margin Coupon Dollar Price AL $ 134.1819.39221 months LIBOR + 22100.000 AS $ 866.1859.5425 Average 30-day SOFR + 25100.000XL Not offered XS Not offered

Details

Co-Lead Manager and Joint Bookrunner: JP Morgan …Read the full story

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  • According to this source Freddie Mac costs $ 1 billion multi-family K-Deal, K-F97 Other OTC: FMCC
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