Freddie Mac announced a new offering of its multifamily MBS called Structured Pass-Through Certificates.
The company expects to offer approximately $1.1 billion in K Certificates, which are expected to price this week and settle on or about March 20, 2012.
Barclays Capital and Wells Fargo Securities are co-lead managers on the deal and joint bookrunners. Credit Suisse, JPMorgan Securities, Jefferies & Co. and Morgan Stanley will serve as co-managers.
The K-017 Certificates include two senior principal and interest classes, a senior interest only class and a junior interest only class.
Fitch Ratings and DBRS have assigned ratings to the three senior classes of K-017 Certificates, which are each expected to receive a rating of AAA(sf).
The K-017 Certificates are backed by 72 recently-originated multifamily mortgages, which are secured by 76 properties, and are guaranteed by Freddie Mac. This is the third K Certificates offering in 2012.
