Macroeconomic News

Freddie Mac to sell $3 billion bills on Monday

Mon, 20th Aug 2012 13:55

Aug 20 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3 bill

ion bills on Monday, Aug. 20.

The sale will include $1.5 billion three-month bills due Nov. 19, 2012, and $1.5 billion six-month bills due Feb. 19, 2013.

The bills will be sold over the Internet in a Dutch auction. In such uniform price auctions, successful bidders pay only the price of the lowest accepted bid rather than the actual price as in a conventional multiple-price auction.

Bids will be accepted from authorized dealers until 9:45 a.m. EDT (1345 GMT).

Settlement is Tuesday, Aug. 21.

(Reporting by Pam Niimi) Keywords: FREDDIEMAC BILLS/ANNOUNCEMENT

(e-mail: pam.niimi@thomsonreuters.com)(Reuters Messaging: pam.niimi.reuters.com@reuters.net)(Tel:1-646-223-6330)

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