Freddie Mac to sell $2.5 billion bills on Tuesday

Tue Jan 22, 2013 8:49am EST

Jan 22 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $2.5 billion reference bills on Tuesday.

The sale consists of $500 million one-month bills due Feb. 19, 2013, $1 billion of three-month bills due April 22, 2013, and $1 billion of six-month bills due July 22, 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. 23.

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