Freddie Mac sells $2.0 bln bills at higher rates
Jan 28 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $2.0 billion of reference bills at higher rates and mixed demand compared with last week's sale of similar maturities.
Freddie Mac said it sold $1.0 billion of three-month bills, due April 29, 2013, at a 0.089 percent rate, up from the 0.082 percent rate for its sale of $1.0 billion three-month bills sold Jan. 22.
The company sold $1.0 billion of six-month bills, due July 29, 2013, at a 0.115 percent rate, also up from a 0.109 percent rate for $1.0 billion six-month bills sold last week.
Demand for the three-month bills was higher, with a bid-to-cover ratio of 6.12, up from the 5.08 ratio for the three-month bills sold Jan. 22, while demand for the six-month bills was lower, at 4.80 compared with 5.35 for six-month bills sold a week ago.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand.
Settlement is Jan. 29.