Fannie Mae to sell $2 bln in bills on Wednesday

NEW YORK, Jan 5 (Reuters) - Fannie Mae (FNM.N) said on Monday it plans to sell $1.0 billion of three-month benchmark bills due April 8, 2009, and $1.0 billion of six-month bills due July 8, 2009, on Wednesday 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 from 9:00 a.m. (1400 GMT), until 9:45 a.m. (1445 GMT).

Settlement is Jan. 7-8. (Reporting by Caryn Trokie; Editing by James Dalgleish)