December 15, 2015
Freddie Mac has priced $976 million in mortgage-backed multifamily securities. The offering is called Structured Pass-Through Certificates, or K Certificates. These certificates are expected to be issued by Dec. 18.
The co-leading managers in the deal are Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities. Co-managers are Barclays Capital, Citigroup Global Markets, Jefferies LLC and Mischler Financial Group.
Meanwhile, the rating agencies involved are DBRS and Fitch.
K-Deals are meant to save taxpayers and investors from potential risks on losses.