Freddie Mac to sell $3.0 bln in bills on Monday

Mon Nov 5, 2012 8:44am EST

Nov 5 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3.0 billion reference bills on Monday.

The sale consists of $1.5 billion of three-month bills due Feb. 4, 2013, and $1.5 billion of six-month bills due May 6, 2013.

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 until 9:45 a.m. EST (1445 GMT).

Settlement is Nov. 6.

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