{"id":473765,"date":"2021-04-08T15:17:16","date_gmt":"2021-04-08T19:17:16","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=473765"},"modified":"2021-04-08T15:17:16","modified_gmt":"2021-04-08T19:17:16","slug":"freddie-mac-prices-838-million-multifamily-k-deal-k-1520","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\/","title":{"rendered":"Freddie Mac Prices $838 million Multifamily K-Deal, K-1520"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">MCLEAN, Va., April  08, 2021  (GLOBE NEWSWIRE) &#8212; <a href=\"http:\/\/www.freddiemac.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Freddie Mac<\/a> (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (<a href=\"https:\/\/mf.freddiemac.com\/investors\/k-deals.html\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">K Certificates<\/a>), which are multifamily mortgage-backed securities. The company expects to issue approximately $838 million in K Certificates (K-1520 Certificates), which are expected to settle on or about April 15, 2021.<\/p>\n<p>\n        <strong>K-1520 Pricing<\/strong>\n      <\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Class<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Principal\/Notional Amount (mm)<\/strong>\n          <\/td>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Weighted Average Life (Years)<\/strong>\n          <\/td>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Spread (bps)<\/strong>\n          <\/td>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: bottom\">\n            <strong>Coupon<\/strong>\n          <\/td>\n<td style=\"max-width:14%;width:14%;min-width:14%;border-top: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: bottom\">\n            <strong>Yield<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"max-width:16%;width:16%;min-width:16%;border-top: solid black 1pt;border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: bottom\">\n            <strong>Dollar Price<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">A-1<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">$229.514<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">11.07<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">S + 23<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: top\">2.00700%<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: top\">2.00174%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">$99.9998<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">A-2<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">$609.064<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">14.76<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">S + 33<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: top\">2.43800%<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: top\">2.27693%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">$101.9916<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">X1<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">$838.578<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">13.53<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">T + 130<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: top\">0.47180%<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: top\">3.15134%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">$5.3376<\/td>\n<\/tr>\n<tr>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;border-left: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">X3<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">$67.994<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">14.65<\/td>\n<td style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;text-align: center;vertical-align: middle;vertical-align: top\">T + 310<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: top\">3.09184%<\/td>\n<td style=\"border-bottom: solid black 1pt;padding-right: 0;text-align: center;vertical-align: middle;border-right: solid black 1pt;vertical-align: top\">5.01692%<\/td>\n<td colspan=\"2\" style=\"border-right: solid black 1pt;border-bottom: solid black 1pt;padding-left: 0;text-align: center;vertical-align: middle;vertical-align: top\">$32.3440<\/td>\n<\/tr>\n<\/table>\n<p>\n        <strong>Details<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc.<\/li>\n<li>Co-Managers: Baird, BofA Securities, Inc., Drexel Hamilton, LLC and Wells Fargo Securities, LLC<\/li>\n<\/ul>\n<p>\n        <strong>Related Links<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li>The K-1520 Preliminary Offering Circular Supplement: <a href=\"http:\/\/www.freddiemac.com\/mbs\/data\/0k1520oc.pdf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">http:\/\/www.freddiemac.com\/mbs\/data\/0k1520oc.pdf<\/a><\/li>\n<li>Freddie Mac Multifamily <a href=\"https:\/\/mf.freddiemac.com\/docs\/mf_securitization_investor-presentation.pdf\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Securitization Overview<\/a><\/li>\n<li>\n          <a href=\"https:\/\/mf.freddiemac.com\/investors\/sd_remic_lookup.html\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Multifamily Securities Investor Access<\/a> database of post-securitization data from Investor Reporting Packages<\/li>\n<\/ul>\n<p>The K-1520 Certificates are backed by corresponding classes issued by the FREMF 2021-K1520 Mortgage Trust (K-1520 Trust) and guaranteed by Freddie Mac. The K-1520 Trust will also issue certificates consisting of the Class X2-A, Class X2-B, Class C and Class R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-1520 Certificates.<\/p>\n<p>\n        <a href=\"https:\/\/mf.freddiemac.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">Freddie Mac Multifamily<\/a> is a leading issuer of agency-guaranteed structured multifamily securities. K-Deals are part of the company\u2019s business strategy to transfer a portion of the risk of losses away from taxpayers and to private investors who purchase the unguaranteed subordinate bonds. K Certificates typically feature a wide range of investor options with stable cash flows and structured credit enhancement.<\/p>\n<p>This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac\u2019s Annual Report on Form 10-K for the year ended December 31, 2020, filed with the Securities and Exchange Commission (SEC) on February 11, 2021; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2020, excluding any information &#8220;furnished&#8221; to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information \u201cfurnished\u201d to the SEC on Form 8-K.<\/p>\n<p>Freddie Mac\u2019s press releases sometimes contain forward-looking statements. Forward-looking statements involve known and unknown risks and uncertainties, some of which are beyond the company\u2019s control. Management\u2019s expectations for the company\u2019s future necessarily involve a number of assumptions, judgments and estimates, and various factors could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements. These assumptions, judgments, estimates and factors are discussed in the company\u2019s Annual Report on Form 10-K for the year ended December 31, 2020, and its reports on Form 10-Q and Form 8-K, which are available on the Investor Relations page of the company\u2019s Web site at\u00a0<a href=\"http:\/\/www.freddiemac.com\/investors\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.FreddieMac.com\/investors<\/a>\u00a0and the SEC\u2019s website at\u00a0<a href=\"http:\/\/www.sec.gov\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">www.sec.gov<\/a>. The company undertakes no obligation to update forward-looking statements it makes to reflect events or circumstances occurring after the date of this press release. The multifamily investors section of the company\u2019s Web site at <a href=\"https:\/\/mf.freddiemac.com\/investors\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">https:\/\/mf.freddiemac.com\/investors\/<\/a> will also be updated, from time to time, with any information on material developments or other events that may be important to investors, and we encourage investors to access this website on a regular basis for such updated information.<\/p>\n<p>The financial and other information contained in the documents that may be accessed on this page speaks only as of the date of those documents. The information could be out of date and no longer accurate. Freddie Mac undertakes no obligation, and disclaims any duty, to update any of the information in those documents.<\/p>\n<p>Freddie Mac makes home possible for millions of families and individuals by providing mortgage capital to lenders. Since our creation by Congress in 1970, we&#8217;ve made housing more accessible and affordable for homebuyers and renters in communities nationwide. We are building a better housing finance system for homebuyers, renters, lenders, and taxpayers. Learn more at <a href=\"http:\/\/www.freddiemac.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">FreddieMac.com<\/a><a href=\"http:\/\/www.freddiemac.com\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">,<\/a> Twitter <a href=\"https:\/\/twitter.com\/FreddieMac\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">@FreddieMac<\/a> and Freddie Mac&#8217;s blog <a href=\"http:\/\/www.freddiemac.com\/blog\/\" rel=\"nofollow noopener noreferrer\" target=\"_blank\">FreddieMac.com\/blog<\/a>.<\/p>\n<p>\n        <strong>MEDIA CONTACT: Erin Mancini<\/strong><br \/>\n        <br \/>\n        <strong>703-903-1530<\/strong><br \/>\n        <br \/>\n        <strong>Erin_Mancini@FreddieMac.com<\/strong><br \/>\n        <br \/>\n        <strong>INVESTOR CONTACTS: Robert Koontz<\/strong><br \/>\n        <br \/>\n        <strong>571-382-4082<\/strong><br \/>\n        <br \/>\n        <strong>Amanda Nunnink<\/strong><br \/>\n        <br \/>\n        <strong>312-407-7510<\/strong>\u00a0<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzkzMiM0MTEyNTY0IzIwODExNTY=\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/ac7c5dd4-33ed-4108-b17a-0586e127cf90\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>MCLEAN, Va., April 08, 2021 (GLOBE NEWSWIRE) &#8212; Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue approximately $838 million in K Certificates (K-1520 Certificates), which are expected to settle on or about April 15, 2021. K-1520 Pricing Class Principal\/Notional Amount (mm) Weighted Average Life (Years) Spread (bps) Coupon Yield Dollar Price A-1 $229.514 11.07 S + 23 2.00700% 2.00174% $99.9998 A-2 $609.064 14.76 S + 33 2.43800% 2.27693% $101.9916 X1 $838.578 13.53 T + 130 0.47180% 3.15134% $5.3376 X3 $67.994 14.65 T + 310 3.09184% 5.01692% $32.3440 Details Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Freddie Mac Prices $838 million Multifamily K-Deal, K-1520&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-473765","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Freddie Mac Prices $838 million Multifamily K-Deal, K-1520 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Freddie Mac Prices $838 million Multifamily K-Deal, K-1520 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"MCLEAN, Va., April 08, 2021 (GLOBE NEWSWIRE) &#8212; Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates), which are multifamily mortgage-backed securities. The company expects to issue approximately $838 million in K Certificates (K-1520 Certificates), which are expected to settle on or about April 15, 2021. K-1520 Pricing Class Principal\/Notional Amount (mm) Weighted Average Life (Years) Spread (bps) Coupon Yield Dollar Price A-1 $229.514 11.07 S + 23 2.00700% 2.00174% $99.9998 A-2 $609.064 14.76 S + 33 2.43800% 2.27693% $101.9916 X1 $838.578 13.53 T + 130 0.47180% 3.15134% $5.3376 X3 $67.994 14.65 T + 310 3.09184% 5.01692% $32.3440 Details Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. &hellip; Continue reading &quot;Freddie Mac Prices $838 million Multifamily K-Deal, K-1520&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2021-04-08T19:17:16+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMzkzMiM0MTEyNTY0IzIwODExNTY=\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Freddie Mac Prices $838 million Multifamily K-Deal, K-1520\",\"datePublished\":\"2021-04-08T19:17:16+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\\\/\"},\"wordCount\":720,\"image\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\\\/#primaryimage\"},\"thumbnailUrl\":\"https:\\\/\\\/www.globenewswire.com\\\/newsroom\\\/ti?nf=ODIxMzkzMiM0MTEyNTY0IzIwODExNTY=\",\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\\\/\",\"url\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/freddie-mac-prices-838-million-multifamily-k-deal-k-1520\\\/\",\"name\":\"Freddie Mac Prices $838 million Multifamily K-Deal, K-1520 - 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The company expects to issue approximately $838 million in K Certificates (K-1520 Certificates), which are expected to settle on or about April 15, 2021. 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