Freddie Mac to sell $2.5 bln bills on Monday
Sept 23 (Reuters) Freddie Mac (FMCC.OB) said Friday it plans to sell $2.5 billion of reference bills on Monday.
The scheduled offerings are:
-- $500 million of one-month bills due Oct. 24, 2011 to be sold Monday and settle Tuesday;
-- $1.0 billion of three-month bills due Dec. 27, 2011 to be sold Monday and settle Tuesday; and
-- $1.0 billion of six-month bills due March 26, 2012 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. (1200 GMT) until 9:45 a.m. (Reporting by Caryn Trokie; Editing by James Dalgleish)
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