UPDATE 1 - Freddie Mac sells $500 mln REMICs
(Adds preliminary distribution data and joint lead managers)
NEW YORK, June 18 (Reuters) - Freddie Mac (FRE.N: Quote, Profile, Research), the second largest U.S. home funding company, said on Wednesday it sold $500 million in Reference REMIC mortgage bonds.
The 5.125 percent real estate mortgage investment conduits (REMICs) were priced at 99.8320 to yield 5.165 percent or 220 basis points over an interpolated group of U.S. Treasury yields. The bonds are guaranteed to mature on June 15, 2018.
Freddie Mac last sold a Reference REMIC in February with a $400 million issue.
Freddie Mac said 78.4 percent of the REMICs were sold in North America and Asia took 21.6 percent. Europe and other regions did not participate, according to preliminary data.
The issue drew more orders than could be filled, with a quarter of them coming from investors who had not previously participated, said Mark Hanson, vice president of mortgage funding at Freddie Mac.
Banks bought 45 percent, insurance companies and pension funds took 23.6 percent of the issue, other investors purchased 15.8 percent, investment managers bought 8.7 percent, while central banks purchased 6.9 percent.
JPMorgan Chase, Citigroup Global Markets and Merrill Lynch managed the sale. (Reporting by Caryn Trokie and Al Yoon, Editing by Chizu Nomiyama)
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