Freddie Mac to sell $2.5 bln in bills on Tuesday
Oct 15 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $2.5 billion of reference bills on Tuesday.
Freddie Mac said it plans to sell $1.0 billion of three-month bills due Jan. 13, 2014, $1.0 billion of six-month bills due April 14, 2014 and $500 million of 12-month bills due Oct. 14, 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 Oct. 15-16.
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