This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Freddie Mac Announces New Offering Of Guaranteed Structured Pass-Through K Certificates

MCLEAN, Va., June 7 /PRNewswire-FirstCall/ -- Freddie Mac (NYSE: FRE) today announced a new offering of Structured Pass-Through Certificates ("K Certificates"), multifamily mortgage-backed securities that help provide liquidity, stability and affordability to the nation's multifamily housing market. The company expects to offer approximately $1 billion in K Certificates ("K-007 Certificates"), which are expected to price on or about June 11, 2010, and settle on or about June 24, 2010.  

The K-007 Certificates will be offered to the market by a network of dealers led by Bank of America Merrill Lynch and Deutsche Bank Securities Inc. as Co-Lead Managers and Joint Bookrunners for the transaction. Barclays Capital Inc., Goldman Sachs & Co., J.P. Morgan Securities Inc., Jefferies & Company, Inc. and Wells Fargo Securities LLC have been named as Co-Managers for the transaction.  The K-007 Certificates are backed by 83 recently originated multifamily mortgages and are guaranteed by Freddie Mac.  The loans were originated using Freddie Mac's Capital Markets Execution(SM) (CME) product.

K Certificates provide Freddie Mac with an efficient vehicle to securitize multifamily loans. They provide investors structured guaranteed securities with stable cash flows and with both structured credit enhancement and the Freddie Mac guarantee.  The K-007 offering represents the third K-deal of the year and is consistent with Freddie Mac's intention to go to market with six K-deals this year.  Freddie Mac's most recent K Certificates offering, K-006, backed by approximately $1.1 billion of multifamily loans, settled on April 6, 2010.

The preliminary offering circular supplement relating to the K-007 Certificates can be found at http://www.freddiemac.com/mbs/data/k007oc.pdf.  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, 2009, filed with the Securities and Exchange Commission ("SEC") on February 24, 2010, and all documents that Freddie Mac files with the SEC pursuant to Section 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, 2009 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.

SOURCE Freddie Mac

Copyright 2009 PR Newswire. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG
AAPL $111.70 -0.57%
FB $89.09 -0.89%
GOOG $611.75 -0.42%
TSLA $249.35 0.67%
YHOO $32.46 2.20%

Markets

Chart of I:DJI
DOW 16,488.78 +137.40 0.84%
S&P 500 1,964.43 +15.57 0.80%
NASDAQ 4,774.6580 +24.6790 0.52%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs