Freddie Mac Announces Multifamily MBS Offering

Freddie Mac has announced a new offering of multifamily mortgage-backed securities (i.e., K Certificates). The company expects to offer approximately $1.1 billion in K Certificates (‘K-006 Certificates’), which are anticipated to price on or around March 25, and settle on or around April 6.

The certificates are backed by 68 recently originated multifamily mortgages and are guaranteed by Freddie Mac. The loans were originated using Freddie Mac's Capital Markets Execution product.

The K-006 Certificates will be offered to the market by a network of dealers led by J.P. Morgan Securities Inc. and Bank of America Merrill Lynch, which will service as co-lead managers and joint bookrunners for the transaction. Deutsche Bank Securities Inc., Goldman Sachs & Co., Jefferies & Co. Inc., and Sandler O'Neill and Partners LP have been named co-managers for the transaction.Â

This K-006 offering represents the second K-deal this year, with six issuances anticipated by year-end. Freddie Mac's most recent K Certificates offering, backed by approximately $1.1 billion of multifamily loans, settled on Feb. 3.

SOURCE: Freddie Mac


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