Freddie Mac says to sell $3 billion bills on Tuesday

Tue Feb 19, 2013 8:38am EST

Feb 19 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3 billion of reference bills on Tuesday.

The company said it will sell $1.5 billion of three-month bills due May 20, 2013, and $1.5 billion six-month bills, due Aug. 19, 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 Feb. 20.

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