Fannie Mae to sell $3 bln in bills on Wednesday

NEW YORK, June 7 Mon Jun 7, 2010 11:27am EDT

NEW YORK, June 7 (Reuters) - Fannie Mae FNM.N FNM.P , the largest U.S. home funding company, said on Monday it plans to sell $2.0 billion of three-month benchmark bills due Sept. 8, 2010, and $1.0 billion of six-month bills due Dec. 8 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 June 9-10. (Reporting by Caryn Trokie, Editing by Chizu Nomiyama)

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