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Tuesday, May 11, 2021 5:49:56 PM
May 11, 2021
MCLEAN, Va. , May 11, 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 the Secured Overnight Financing Rate (SOFR). The
approximately $938 million in K Certificates (K-F111 Certificates) are expected to settle on or about May 20, 2021. The K-F111 Certificates are backed
by floating-rate multifamily mortgages with 10-year terms, which are SOFR-based.
K-F111 Pricing
Class
Principal/Notional
Amount (mm)
Weighted Average Life
(Years) Discount Margin Coupon Dollar Price
AS $938.461 9.52 24 30-day SOFR avg + 24 100.000
XS Non-Offered
Details
Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Goldman Sachs & Co. LLC
Co-Managers: Academy Securities, Inc., Citigroup Global Markets Inc., Performance Trust Capital Partners, LLC and Wells
Fargo Securities, LLC
Related Links
The K-F111 preliminary offering circular supplement: http://www.freddiemac.com/mbs/data/0kf111oc.pdf
Freddie Mac Multifamily Securitization Overview
Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages
The K-F111 Certificates will not be rated and will include one senior principal and interest class and one interest-only class that is also entitled to static
prepayment premiums. The K-F111 Certificates are backed by corresponding classes issued by the FREMF 2021-KF111 Mortgage Trust (KF111
Trust) and guaranteed by Freddie Mac. The KF111 Trust will also issue certificates consisting of the Class CS and R Certificates, which will be
subordinate to the classes backing the K-F111 Certificates and will not be guaranteed by Freddie Mac.
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