Freddie Mac to sell $2 bln in bills on Monday

NEW YORK, April 1 Fri Apr 1, 2011 11:27am EDT

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NEW YORK, April 1 (Reuters) - 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)

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