November 4, 2013 / 2:10 PM / 4 years ago

Freddie Mac to sell $3.0 bln in bills on Monday

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Nov 4 (Reuters) - Freddie Mac, the No. 2 U.S. home funding company, said it will sell $3.0 billion of reference bills on Monday.

Freddie Mac said it plans to sell $1.0 billion of three-month bills due Feb. 3, 2014, $1.0 billion of six-month bills due May 5, 2014 and $1.0 billion of 12-month bills due Nov. 3, 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 (1445 GMT).

Settlement is Nov. 5.

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