Freddie Mac to sell $3 bln bills July 22

July 22 Mon Jul 22, 2013 8:47am EDT

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July 22 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3 billion of reference bills on Monday.

Freddie Mac said it plans to sell $500 million of one-month bills due Aug. 19, 2013, $1 billion of three-month bills due Oct. 21, 2013, and $1.5 billion of six-month bills due Jan. 21, 2014.

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 July 23.

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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