Freddie Mac to sell $3 bln in bills on Monday

Mon May 6, 2013 8:39am EDT

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May 6 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3.0 billion of reference bills on Monday.

Freddie Mac said it plans to sell $1.5 billion of three-month bills due Aug. 5, 2013 and $1.5 billion six-month bills, due Nov. 4, 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. EDT (1345 GMT).

Settlement is May 7.