Freddie Mac sells $2 bln bills at mixed rates, demand
April 1 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $2.0 billion of reference bills at mixed rates and demand compared with last week's sale of similar maturities.
Freddie Mac said it sold $1.0 billion of three-month bills, due July 11, 2013, at a 0.085 percent rate, up from the 0.069 percent rate for its sale of $1.0 billion three-month bills on March 25.
The company sold $1.0 billion of six-month bills, due Sept. 30, 2013, at a 0.125 percent rate, down from a 0.128 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 5.75, up from the 4.80 ratio for the three-month bills sold March 25. Demand for the six-month bills was lower at 4.22 compared with 4.65 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, while a lower ratio indicates weaker demand.
Settlement is April 2.
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