Fannie Mae Prices $583 Million Multifamily DUS REMIC (FNA 2013-M11) Under Its Fannie Mae GeMS™ Program
WASHINGTON, July 19, 2013 /PRNewswire/ -- Fannie Mae (OTC Bulletin Board: FNMA) priced its seventh Multifamily DUS® REMIC in 2013 totaling $583 million under its Fannie Mae Guaranteed Multifamily Structures (Fannie Mae GeMS) program on July 15, 2013.
"Given the broader market uncertainty, we saw superior demand for floating-rate paper and structured a smaller, floating-rate deal off of seasoned, fixed-rate collateral. Investor interest in the floater was strong, and the tranche was more than two times oversubscribed," said Josh Seiff, Fannie Mae Director of Multifamily Capital Markets. "In addition, we sold the remaining three tranches to multiple investors through reverse inquiry."
All classes of FNA 2013-M11 are guaranteed by Fannie Mae with respect to the full and timely payment of interest and principal. The structure details for the multi-tranche offering are included in the table below:
Certain statements in this release may be considered forward-looking statements within the meaning of federal securities laws. In addition, not all securities will have the characteristics discussed in this release. Before investing in any Fannie Mae issued security, you should read the prospectus and prospectus supplement pursuant to which such security is offered. You should also read our most current Annual Report on Form 10-K and our reports on Form 10-Q and Form 8-K filed with the U.S. Securities and Exchange Commission ("SEC") available on the Investor Relations page of our Web site at www.fanniemae.com and on the SEC's Web site at www.sec.gov.
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SOURCE Fannie Mae
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