Freddie Mac plans to issue $1.3 billion in mortgage-backed securities. The notes are expected to price this week, according to a press release on the deal.
This is Freddie Mac's fourteenth multifamily offering this year. The K-032 Certificates are backed by 90 recently-originated multifamily mortgages and are guaranteed by Freddie Mac.
J. P. Morgan Securities and Merrill Lynch, Pierce, Fenner & Smith are co-lead managers and joint bookrunners on the deal. Credit Suisse, Deutsche Bank, Goldman Sachs and Jefferies will serve as co-managers.
The K-032 Certificates include two senior principal and interest classes, one senior interest only class and one junior interest only class. Fitch Ratings and Kroll Bond Rating Agency are rating the three senior classes of K-032 Certificates, which are each expected to receive a rating of triple-A.