Freddie Mac has a new offering of structured passthrough certificates or K certificates. The deal comprises roughly $1 billion in multifamily MBS, which are set to price this week.
The deal is expected to settle on or about May 22.
The K-018 Certificates are backed by 75 recently-originated multifamily mortgages and are guaranteed by Freddie Mac. This is the sixth K Certificates offering this year.
Co-lead managers and joint bookrunners on the transaction are JPMorgan Securities and Wells Fargo Securities
Barclays Capital, CastleOak Securities, Guggenheim Securities and Morgan Stanley are the co-managers on the offering.
The certificates include two senior principal and interest classes, one senior interest-only class and a junior interest-only class.
Fitch Ratings and DBRS are rating the three senior classes of the structure at 'AAA'.