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Strategies & Market Trends : The Epic American Credit and Bond Bubble Laboratory

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To: russwinter who wrote (50200)1/19/2006 10:26:54 AM
From: shades   of 110194
 
*DJ Freddie Mac $3B Reference REMIC Yields Tsys +0.85

J Freddie Mac $3B Reference REMIC Yields Tsys +0.85

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NEW YORK (Dow Jones)--Freddie Mac priced a Reference Real Estate Mortgage Investment Conduit (REMIC) Thursday.

A $3 billion tranche with a guaranteed final maturity of Dec. 15, 2013, was assigned a coupon of 5.125% and priced at 99.83984375 to yield 5.1653%, or 85 basis points over the interpolated Treasurys yield curve.

The deal is backed by 6% 30-year fixed-rate mortgage bonds backed by Freddie Mac known as Gold Participation Certificates.

Bear Stearns, Credit Suisse and RBS Greenwich Capital were the co-lead managers.

Settlement is scheduled for Jan. 24.
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