Freddie Mac Makes Plans for First 2014 Multifamily Securities Deal

Freddie Mac this week plans to price a $1 billion structured pass-through deal backed exclusively by fixed-rate multifamily mortgages with seven-year terms.

The K-714 certificates will settle on or about Jan. 28. This is Freddie Macís first K certificate offering this year.

Seventy-three recently originated multifamily mortgages back the certificates in the deal. The transaction has two senior principal and interest classes, a senior interest-only class and a junior IO class.

Moody's Investors Service Inc. and Morningstar Credit Ratings LLC have assigned their top preliminary ratings to the three Freddie Mac-guaranteed senior classes, subject to ongoing monitoring.

A syndicate of dealers led by Barclays Capital Inc. and RBS Securities Inc. as co-lead managers and joint book-runners are offering the securities to the market. JPMorgan Securities LLC, Jefferies LLC, Mischler Financial Group Inc. and Wells Fargo Securities LLC are co-managers.

Comments (0)

Be the first to comment on this post using the section below.

Add Your Comments:
Not Registered?
You must be registered to post a comment. Click here to register.
Already registered? Log in here
Please note you must now log in with your email address and password.