Freddie Mac sells $2 bln bills at lower rates, higher demand
Aug 6 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said on Monday it sold $2 billion of reference bills at lower rates and stronger demand compared with the most recent sales of similar maturities. Freddie Mac said it sold $1 billion of three-month bills due Nov. 5, 2012 at a 0.116 percent stop-out rate, down from a 0.128 percent rate for its $1 billion three-month bills sold July 30. The company also sold $1 billion of six-month bills due Feb. 4, 2013 at a 0.149 percent rate, down from the 0.160 percent rate for its sale of $1 billion six-month bills a week ago. Demand for the three-month bills was stronger with the bid-to-cover ratio at 4.87 versus 4.45 for bills sold July 30, and demand for the six-month bills was also higher at 5.05 ratio versus 4.42 for its bills sold a week ago. A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand. Settlement is Aug. 7.
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