|By Marketwired .||
|June 17, 2014 05:29 PM EDT||
MCLEAN, VA -- (Marketwired) -- 06/17/14 -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates ("K Certificates"), which are multifamily mortgage-backed securities. The approximately $1.1 billion in K Certificates ("K-038 Certificates") is expected to settle on or about June 25, 2014. This is Freddie Mac's seventh K Certificates offering this year.
Weighted Principal/Notional Average Life Spread Dollar Class Amount (mm) (Years) (bps) Coupon Yield Price ---------------------------------------------------------------------------- A-1 $170.000 5.46 S+32 2.6040% 2.18661% 101.9975 A-2 $887.556 9.61 S+38 3.3890% 3.02157% 102.9951 X1 $1,057.556 8.72 T+110 1.2034% 3.57667% 9.0558 X3 $182.979 9.57 T+200 2.4901% 4.58617% 19.4428
- Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Wells Fargo Securities, LLC.
- Co-Managers: Barclays Capital Inc., Citigroup Global Markets Inc., Guggenheim Securities, LLC and The Williams Capital Group, L.P.
- Rating Agencies: DBRS, Inc. and Fitch Ratings, Inc. are rating the three senior classes of K-038 Certificates, which are each expected to receive a rating of "AAA(sf)" and "AAAsf", respectively, subject to ongoing monitoring.
- Press release announcing K-038
- The K-038 preliminary offering circular supplement can be found at http://www.freddiemac.com/mbs/data/k038oc.pdf
- Freddie Mac Multifamily Investor Presentation
- Multifamily Securities Investor Access database of post-securitization data from Investor Reporting Packages
- Freddie Mac Multifamily press releases
The K-038 Certificates are backed by corresponding classes issued by the FREMF 2014-K38 Mortgage Trust ("K-38 Trust") and guaranteed by Freddie Mac. The K-38 Trust will also issue certificates consisting of the Class B, C, D and R Certificates, which will not be guaranteed by Freddie Mac and will not back any class of K-038 Certificates.
Freddie Mac Multifamily is a leading issuer of agency-guaranteed structured multifamily securities. K-Deals are part of the company's business strategy to transfer a portion of the risk of losses away from taxpayers to private investors who purchase the unguaranteed subordinate bonds. K Certificates typically feature a wide range of investor options with stable cash flows and structured credit enhancement.
This announcement is not an offer to sell any Freddie Mac securities. Offers for any given security are made only through applicable offering circulars and related supplements, which incorporate Freddie Mac's Annual Report on Form 10-K for the year ended December 31, 2013, filed with the Securities and Exchange Commission (SEC) on February 27, 2014; all other reports Freddie Mac filed with the SEC pursuant to Section 13(a) of the Securities Exchange Act of 1934 (Exchange Act) since December 31, 2013, excluding any information "furnished" to the SEC on Form 8-K; and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Exchange Act, excluding any information "furnished" to the SEC on Form 8-K.
Freddie Mac's press releases sometimes contain forward-looking statements. A description of factors that could cause actual results to differ materially from the expectations expressed in these and other forward-looking statements can be found in the company's Annual Report on Form 10-K for the year ended December 31, 2013, and its reports on Form 10-Q and Form 8-K, filed with the SEC and available on the Investor Relations page of the company's Web site at www.FreddieMac.com/investors and the SEC's Web site at www.sec.gov.
Freddie Mac was established by Congress in 1970 to provide liquidity, stability and affordability to the nation's residential mortgage markets. Freddie Mac supports communities across the nation by providing mortgage capital to lenders. Today Freddie Mac is making home possible for one in four homebuyers and is one of the largest sources of financing for multifamily housing. www.FreddieMac.com. Twitter: @FreddieMac
Oct. 25, 2016 01:15 PM EDT Reads: 1,034
Oct. 25, 2016 12:45 PM EDT Reads: 4,928
Oct. 25, 2016 12:30 PM EDT Reads: 8,474
Oct. 25, 2016 12:00 PM EDT Reads: 2,667
Oct. 25, 2016 11:45 AM EDT Reads: 3,796
Oct. 25, 2016 11:45 AM EDT Reads: 2,087
Oct. 25, 2016 11:45 AM EDT Reads: 2,163
Oct. 25, 2016 11:42 AM EDT Reads: 161
Oct. 25, 2016 11:30 AM EDT Reads: 2,020
Oct. 25, 2016 11:30 AM EDT Reads: 1,117
Oct. 25, 2016 11:30 AM EDT Reads: 3,598
Oct. 25, 2016 11:15 AM EDT Reads: 1,522
SYS-CON Events announced today that Tintri Inc., a leading producer of VM-aware storage (VAS) for virtualization and cloud environments, will present at the 19th International Cloud Expo, which will take place on November 1–3, 2016, at the Santa Clara Convention Center in Santa Clara, CA. Tintri VM-aware storage is the simplest for virtualized applications and cloud. Organizations including GE, Toyota, United Healthcare, NASA and 6 of the Fortune 15 have said “No to LUNs.” With Tintri they manag...
Oct. 25, 2016 11:15 AM EDT Reads: 3,643
Data is the fuel that drives the machine learning algorithmic engines and ultimately provides the business value. In his session at Cloud Expo, Ed Featherston, a director and senior enterprise architect at Collaborative Consulting, will discuss the key considerations around quality, volume, timeliness, and pedigree that must be dealt with in order to properly fuel that engine.
Oct. 25, 2016 11:15 AM EDT Reads: 3,920
From wearable activity trackers to fantasy e-sports, data and technology are transforming the way athletes train for the game and fans engage with their teams. In his session at @ThingsExpo, will present key data findings from leading sports organizations San Francisco 49ers, Orlando Magic NBA team. By utilizing data analytics these sports orgs have recognized new revenue streams, doubled its fan base and streamlined costs at its stadiums. John Paul is the CEO and Founder of VenueNext. Prior ...
Oct. 25, 2016 11:00 AM EDT Reads: 3,681