Freddie Mac to sell $3 billion bills on Monday

Mon Jan 7, 2013 8:53am EST

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Jan 7 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3 billion of reference bills on Monday.

The sale will consist of $1.5 billion of three-month bills due April 8, 2013, and $1.5 billion of six-month bills due July 8, 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 Jan. 8.

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A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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