McLEAN, VA—After re-introducing its 10-year floating rate loan program last fall, Freddie Mac has purchased enough of the paper to do a 10-year floating rate deal. The GSE priced the $1.1 billion in K Certificates and expects to settle them on or about April 24, 2015.

The appetite for the paper was good, Freddie Mac VP Robert Koontz tells, although not as deep as it is for the popular 7-year floating rate paper even though the investor base is fairly similar. Koonz says it is not certain yet how often Freddie Mac will offer these securities, “but my best guess is one or two times a year.”

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