Freddie Readies Seven-Year Loan-Backed Multifamily K Deal

By Bonnie Sinnock

Published April 03, 2013, 12:26 p.m. EDT

1 Min Read

Freddie Mac is rolling out its fifth so-called K deal of the year, another multifamily commercial-backed securities transaction backed exclusively by seven-year collateral.

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The deal, K-712, has an estimated size of $1.4 billion. Freddie has named as co-lead managers and joint bookrunners JPMorgan and Wells Fargo, and named as co-managers Barclays, Credit Suisse, Guggenheim and Merrill Lynch.

Freddie Mac is guaranteeing the securities, and Standard & Poor’s and Morningstar Credit Ratings are expected to assign their top ratings to the bonds, subject to ongoing monitoring. The deal has two senior principal and interest classes and one senior interest-only class. It also has a junior IO class.

Capital Markets Editor

Bonnie Sinnock is National Mortgage News' Capital Markets Editor at Arizent and has worked for NMN and affiliated publications since 1995. Her... Read full bio

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