Fannie Mae to sell $3.0 bln bills on Wednesday

NEW YORK Aug 10 (Reuters) - Fannie Mae FNM.N, the largest U.S. home funding company, said on Monday it plans to sell $1.5 billion of three-month benchmark bills due Nov. 12, 2009, and $1.5 billion of six-month bills due Feb. 10, 2010, 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. until 9:45 a.m.

Settlement is Aug. 12-13. (Reporting by Caryn Trokie; editing by Jeffrey Benkoe)