Freddie Mac sells $3.0 bln bills at mixed rates
Oct 21 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, on Monday said it sold $3.0 billion of reference bills at mixed interest rates and stronger demand compared with the most recent sales of similar maturities and comparable amounts.
Freddie Mac sold $1.0 billion of three-month bills, due Jan. 21, 2014, at a 0.050 percent rate, down from the 0.150 percent rate for $1.0 billion three-month bills sold Oct. 15.
The company sold $1.0 billion of six-month bills, due April 21, 2014, at a 0.100 percent rate, also down from the 0.173 percent rate for $1.0 billion six-month bills auctioned a week ago.
Freddie Mac also sold $1.0 billion of 12-month bills at a 0.154 percent rate, up from the 0.145 percent rate for its $1.0 billion of 12-month bills sold on Oct. 7.
Demand for the three-month bills was stronger, with a bid-to-cover ratio of 5.03, up from the 3.30 ratio for the three-month bills sold Oct. 15.
Demand for the six-month bills was also stronger at 4.32, up from the bid-to-cover ratio of 3.10 for the six-month bills sold last week.
Demand for the 12-month bills was stronger at 4.23, up from 3.35 for the 12-month bills auctioned on Oct. 7.
A bid-to-cover ratio reflects the amount of bids compared with the amount offered. A higher ratio indicates stronger demand.
Settlement is Oct. 21-22.