Freddie Mac to sell $3 bln in bills on Monday
NEW YORK, July 10 (Reuters) - Freddie Mac (FRE.N: Quote, Profile, Research) said on Friday it plans to sell $3.0 billion of reference bills next week.
The scheduled offerings are:
-- $2.0 billion of three-month bills due Oct. 13, 2009 to be sold Monday and settle Tuesday; and
-- $1.0 billion of six-month bills due Jan. 11, 2010 to be sold Monday and settle Tuesday.
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 from 8:00 a.m. until 9:45 a.m. (Reporting by Caryn Trokie; Editing by Dan Grebler)
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