Fannie Mae sells $500 mln bills at higher rates

Wed Oct 16, 2013 9:56am EDT

Oct 16 (Reuters) - Fannie Mae, the largest U.S. home funding source, said on Wednesday it sold $500 million of benchmark bills at higher interest rates compared with last week's sale of similar maturities.

Fannie Mae said it sold $250 million of three-month bills due Jan. 15, 2014 at a 0.175 percent stop-out rate, or lowest accepted rate, up from the 0.120 percent rate for $250 million of three-month bills sold Oct. 9.

The company sold $250 million of six-month bills due April 16, 2014 at a 0.189 percent rate, also up from the 0.145 percent rate for $250 million of six-month bills sold a week ago.

The three-month bills were priced at 99.956 with a money market yield of 0.175 percent. The six-month bills were priced at 99.904 with a money market yield of 0.189 percent.

Settlement is Oct. 16-17.

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