NEW YORK, April 1 Freddie Mac (FMCC.OB) said Friday it plans to sell $2.0 billion of reference bills on Monday.
The scheduled offerings are:
-- $1.0 billion of three-month bills due July 5, 2011 to be sold on April 4 and settle on April 5.
-- $1.0 billion of six-month bills due Oct. 3, 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. EDT (Reporting by Caryn Trokie)