Freddie Mac bill sale - higher rates, mixed demand

NEW YORK, June 22 (Reuters) - Freddie Mac FRE.P FRE.N said its sale of $3 billion of bills on Monday brought higher rates and drew mixed demand compared with the most recent sales of the same maturities.

Freddie Mac's $1 billion of one-month bills due July 20, 2009 were auctioned at a 0.160 percent rate, up from a 0.130 percent rate for a $1 billion one-month sale on May 26.

Its $1 billion of three-month bills due Sept. 21, 2009 were sold at 0.210 percent, up from 0.198 percent for the $1 billion offering on June 15.

In addition, Freddie Mac auctioned $1 billion of six-month bills due Dec. 21, 2009 at a 0.330 percent rate, up from a 0.307 percent rate for $1 billion bills auctioned last week.

Demand for the one-month bills was weaker than last month, with a bid-to-cover ratio of 3.96 compared with 4.20 for the May 26 sale.

Demand for the three-month bills was stronger than last week, with a bid-to-cover ratio of 3.77 compared with 3.58 on June 15, while demand was weaker for the six-month bills at 3.32 against 3.38 last week.

A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand, a lower ratio indicates weaker demand.

Settlement for all bills is June 23. (Reporting by Caryn Trokie; Editing by James Dalgleish)