NEW YORK, Nov 19 Freddie Mac (FMCC.OB) said Friday it plans to sell $3.5 billion of reference bills on Monday.
The scheduled offerings are:
-- $500 million of one-month bills due Dec. 20, 201 to be sold Monday and settle Tuesday;
-- $2.0 billion of three-month bills due Feb. 22, 2011 to be sold Monday and settle Tuesday; and
-- $1.0 billion of six-month bills due May 23, 2011 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.
Settlement is Nov. 23. (Reporting by Caryn Trokie; Editing by James Dalgleish)