Freddie Mac to sell $3.5 bln bills on Monday

NEW YORK, Oct 23 (Reuters) - Freddie Mac (FRE.N) said
Friday it plans to sell $3.5 billion of reference bills on
Monday.

The scheduled offerings are:

-- $1.0 billion of one-month bills due Nov. 23, 2009 to be
sold Monday and settle Tuesday;

-- $1.0 billion of three-month bills due Jan. 25, 2010 to
be sold Monday and settle Tuesday;

-- $1.0 billion of six-month bills due April 26, 2010 to be
sold Monday and settle Tuesday and;

-- $500 million of 12-month bills due Oct. 25, 2010 to be
sold Monday and settle Tuesday;

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 from 8:00
a.m. (1200 GMT) until 9:45 a.m.
(Reporting by Caryn Trokie; Editing by James Dalgleish)