Freddie Mac plans to issue its ninth multifamily CMBS of 2013, a $1.3 billion transaction that is backed by fixed-rate multifamily mortgages with a seven-year term.

The K-713 Certificates are expected to price on or about May 31, 2013, and settle on or about June 19, 2013, according to a company press release.

The deal is being led managed by syndicate of dealers led by Merrill Lynch, Pierce, Fenner & Smith and J. P. Morgan Securities. Credit Suisse Securities (USA), Jefferies, Morgan Stanley and RBS Securities will serve as co-managers.

The certificates are backed by 74 recently-originated multifamily mortgages and are guaranteed by Freddie Mac.

The capital structure includes two senior principal and interest classes, a senior interest only class and a junior interest only class.

Fitch Ratings and Kroll Bond Rating Agency each assigned preliminary ratings of triple-A to the three senior classes of K-713 Certificates. 

 

 

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