Fannie Mae says to sell $2 bln bills Wednesday

Mon Oct 15, 2012 1:48pm EDT

Oct 15 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Monday it plans to sell $2 billion of benchmark bills on Wednesday, Oct. 17.

The sale will include $1 billion of three-month bills due Jan. 16, 2013, and $1 billion of six-month bills due April 17, 2013.

The sale will be in the form of 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 9 a.m. EDT (1300 GMT) until 9:45 a.m. EDT (1345 GMT).

Settlement is Oct. 17-18.

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