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Freddie Mac Announces Sixth $1 Billion Multifamily Securities Offering This Year, K-018

marketwatch.comApr 30, 2012

MCLEAN, Va., April 30, 2012 /PRNewswire via COMTEX/ -- Freddie Mac FMCC -1.04% today announced a new offering of Structured Pass-Through Certificates ("K Certificates"), which are multifamily mortgage-backed securities. The company expects to offer approximately $1 billion in K Certificates ("K-018 Certificates"), which are expected to price the week of April 30, 2012, and settle on or about May 22, 2012.

The K-018 Certificates will be offered to the market by a syndicate led by J.P. Morgan Securities LLC and Wells Fargo Securities, LLC as co-lead managers and joint bookrunners. Barclays Capital Inc., CastleOak Securities, L.P., Guggenheim Securities, LLC and Morgan Stanley & Co. LLC will serve as co-managers. The K-018 Certificates include two senior principal and interest classes, one senior interest only class and a junior interest only class. Fitch, Inc. and DBRS, Inc. have been engaged to rate the three senior classes of K-018 Certificates, which are each expected to receive a rating of "AAA(sf)", subject to on-going monitoring.

The K-018 Certificates are backed by 75 recently-originated multifamily mortgages and are guaranteed by Freddie Mac. This is the sixth K Certificates offering this year. K Certificates provide Freddie Mac with an efficient vehicle to securitize multifamily loans.

Freddie Mac is a leading issuer of agency-guaranteed structured multifamily securities. They feature a wide range of investor options with stable cash flows and a structured credit enhancement. K-Deals include guaranteed senior and interest only classes.

The preliminary offering circular supplement relating to the K-018 Certificates can be found here. A Freddie Mac multifamily investor presentation on the K Certificate deal structure and multifamily loan portfolio performance data are available at FreddieMac.com. Freddie Mac also has an online tool for investors and analysts, Multifamily Securities Investor Access. This is a central database that houses all post-securitization data from Investor Reporting Packages to help investors and analysts monitor K-Deal performance.

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, 2011, filed with the Securities and Exchange Commission ("SEC") on March 9, 2012; 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, 2011, 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, 2011, 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 website and the SEC's website.

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. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters.


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