Freddie Mac to sell $2 billion in bills on Monday

Mon Dec 24, 2012 8:54am EST

(Reuters) - Freddie Mac (FMCC.OB), the No. 2 U.S. home funding company, said it will sell $2.0 billion worth of reference bills on Monday.

The sale consists of $1.0 billion of three-month bills March 25, 2013, and $1.0 billion of six-month bills due June 24, 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 December 26

(Reporting by Caryn Trokie; Editing by Chizu Nomiyama)

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