Freddie Mac sells $3.0 bln bills at lower rates, demand
Jan 14 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $3.0 billion of reference bills at lower rates and demand compared with last week's sale of similar maturities.
Freddie Mac said it sold $1.5 billion of three-month bills, due April 15, 2013, at a 0.084 percent rate, down from the 0.085 percent rate for its sale of $1.5 billion three-month bills sold Jan. 7.
The company sold $1.5 billion of six-month bills, due July 15, 2013, at a 0.115 percent rate, also down from a 0.130 percent rate for $1.5 billion six-month bills sold last week.
Demand for the three-month bills was lower, with a bid-to-cover ratio of 4.62, down from the 4.70 ratio for the three-month bonds sold Jan. 7, and demand for the six-month bills was also down, at 5.09 compared with 5.77 for six-month bills sold a week ago.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A lower ratio indicates weaker demand.
Settlement is Jan. 15.
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