Freddie Mac to sell $3 billion bills on Monday

Mon Nov 26, 2012 8:41am EST

Nov 26 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3 billion reference bills on Monday.

The sale consists of $1.5 billion of three-month bills due Feb. 25, 2013, and $1.5 billion of six-month bills due May 28, 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. 27.