Freddie Mac to sell $3 billion in bills on Monday

Mon Nov 25, 2013 8:36am EST

Nov 25 (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 $1 billion of three-month bills due Feb. 24, 2014, and $2 billion of six-month bills due May 27, 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. EST (1445 GMT).

Settlement is Nov. 26.

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