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Freddie Mac Announces K-016 Offering of Approximately $1 Billion in Multifamily Securities

Freddie Mac Announces K-016 Offering of Approximately $1 Billion in Multifamily Securities

MCLEAN, Va., Dec. 5, 2011 /PRNewswire/ — Freddie Mac (OTC: FMCC) today announced a new offering of Structured Pass-Through Certificates (“K Certificates“), multifamily mortgage-backed securities.  The company expects to offer approximately $1.0 billion in K Certificates (“K-016 Certificates”), which are expected to price the week of December 5, 2011, and settle on or about December 22, 2011. 

The K-016 Certificates will be offered to the market by a syndicate of dealers led by Deutsche Bank Securities Inc. and J.P. Morgan Securities LLC as co-lead managers and joint bookrunners for the transaction. Credit Suisse Securities (USA) LLC, Merrill Lynch, Pierce, Fenner & Smith Incorporated, Morgan Stanley & Co. LLC and Wells Fargo Securities, LLC will serve as co-managers for the transaction. The K-016 Certificates include two classes of senior principal and interest classes, a senior interest only class and a junior interest only class.  Rating agencies Fitch, Inc. and Morningstar Credit Ratings, LLC have been engaged to rate the three senior classes of K-016 Certificates, which are each expected to receive a rating of “AAA(sf)”  and “AAA”, respectively, subject to on-going monitoring.  

The K-016 Certificates are backed by 85 recently-originated multifamily mortgages and are guaranteed by Freddie Mac.  This is the twelfth K Certificate offering this year. K Certificates provide Freddie Mac with an efficient vehicle to securitize multifamily loans. The certificates provide investors with stable cash flows, structured credit enhancement and the Freddie Mac guarantee. 

The preliminary offering circular supplement relating to the K-016 Certificates can be found at http://www.FreddieMac.com/mbs/data/k016oc.pdf [PDF].  A Freddie Mac multifamily investor presentation on the K-Deal structure and multifamily loan portfolio performance data are available at FreddieMac.com.  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, 2010, filed with the Securities and Exchange Commission (“SEC”) on February 24, 2011, and all documents that Freddie Mac files with the SEC pursuant to Sections 13(a), 13(c) or 14 of the Securities Exchange Act of 1934, 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, 2010 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. Over the years, Freddie Mac has made home possible for one in six homebuyers and more than five million renters. www.FreddieMac.com


SOURCE Freddie Mac

For further information: CONTACT: MEDIA CONTACT, Patti Boerger, +1-703-903-2445, Patricia_Boerger@FreddieMac.com; INVESTOR CONTACT, David Brickman, +1-571-382-3400

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